Asset management company Grayscale announced on Twitter yesterday (13) that it has launched a new fund for the lending protocol MakerDAO governance token MKR, which will only be open to qualified individuals and institutions in the form of a closed single-asset investment fund. open.

Grayscale Launches MakerDAO (MKR) Trust Fund

The official press release stated that the Grayscale MakerDAO Trust Fund will allow investors to access the MakerDAO ecosystem and MKR tokens, indirectly providing support for its lending and stablecoin services.

The company said the fund will not trade on an exchange and will be open only to private investors, with about $267,000 already committed:

The fund is now open for subscription from qualified individuals, institutions and other accredited investors and functions the same as Grayscale’s other single-asset investment trusts, investing exclusively in MakerDAO (MKR) tokens.

As soon as the news came out, the MKR token rose 8.5% during the day, reaching a high of nearly a week, and was trading at $2,147 at the time of writing.

MakerDAO’s final plan

As one of the largest on-chain asset management protocols, MakerDAO manages more than $7 billion in real-world assets (RWA), including a $1 billion U.S. Treasury investment plan released last month, attracting BlackRock tokenization Fund BUIDL, real asset protocol Ondo and asset management company Superstate are competing to participate.

At the same time, the team also issued the stablecoin DAI with a market value of approximately US$5.1 billion, second only to USDT and USDC.

As part of its founder Rune Christensen's final plan, the protocol is also undergoing a major upgrade of its DAI stablecoin, which is expected to be divided into NewStable to meet regulatory requirements and PureDai for the concept of decentralization.

(DAI major upgrade, Maker launches two stablecoins to meet regulatory and decentralization needs)

Grayscale actively launches new fund products

As the world's largest cryptocurrency fund management company, Grayscale manages more than US$25 billion in assets, including the US$14.3 billion Grayscale Bitcoin Trust Fund (GBTC) and the US$5.2 billion Grayscale Ethereum Trust Fund (ETHE). ) is the main product.

Since last month, the company has successively launched new fund products, including quarterly rebalanced decentralized AI project private funds, including Bittensor (TAO), Near (NEAR), Render (RNDR), Filecoin ( FIL) and other project tokens.

Yesterday, Grayscale even wrote a special article on the trust fund of its L1 protocol Sui (SUI) token to promote its products to investors.

(Grayscale Article Marketing Sui Fund: The next-generation blockchain challenging Ethereum’s dominance, with the lowest TVL/market capitalization ratio)

Rayhaneh Sharif-Askary, Grayscale’s head of product and research, said in a statement that the new MakerDAO Trust Fund will lead investors to experience the growth of the protocol’s entire ecosystem:

Grayscale will continue to work on expanding our product categories and providing more innovative investment opportunities.

And added, “In the future, the cryptocurrency ETF market will cover more novel single digital assets and more indexed products based on cryptocurrency.”

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