Grayscale Investments, a well-known digital asset management firm, has introduced the Grayscale MakerDAO Trust to the public. According to the announcement, this Trust will allow investors to invest in MKR, the token used for utility and governance on the MakerDAO platform.
Details on Grayscale’s MakerDAO Trust
The Grayscale MakerDAO Trust lets investors access several digital assets and Decentralized Finance (DeFi) protocols within the MakerDAO ecosystem. Investors can partake in an on-chain credit protocol, use stablecoins, and engage with real-world assets through the MKR token. This Trust is designed to help accredited investors, both individuals and institutions, easily add MKR to their investment portfolio.
Interestingly, MKR plays a crucial role in MakerDAO’s ecosystem, functioning as a governance and a utility token. As such, MKR holders can vote and impact important choices within the MakerDAO platform, such as risk management and collateral policies.
Notably, Grayscale’s Trust is now open for daily subscriptions by eligible individuals and institutional accredited investors. This provides an easier way to invest in MKR without dealing with the complexities of directly buying and storing digital assets. Likewise, the new offering is expected to attract interest from those seeking to diversify their portfolios with innovative financial products based on blockchain technology and decentralized finance.
Grayscale Investments Unveils New Fund
In March, Grayscale Investments unveiled a new offering aimed at sophisticated investors looking to tap into the income potential of staking cryptocurrency tokens. The newly launched Grayscale Dynamic Income Fund (GDIC) targets clients with assets under management (AUM) exceeding $1.1 million or a net worth surpassing $2.2 million.
The offering comes when the digital asset management firm’s spot Bitcoin exchange-traded fund (ETF) inks closer to lagging behind BlackRock’s iShares Bitcoin Trust (IBIT), which has broken several records while witnessing strong inflows.
Furthermore, Grayscale disclosed three Proof of Stake (PoS) tokens earmarked for inclusion in the fund’s portfolio. Osmosis (OSMO) constitutes 24%, Solana (SOL) makes up 20%, and Polkadot (DOT) represents 14%, with the remaining 43% allocated to other tokens.
Grayscale Ethereum Trust Discount Plummets
Recall that Grayscale Ethereum Trust recorded a massive discount within one year. Renowned ETF analyst Nate Geraci highlighted the dramatic decline from almost 50% to 1.55 over the past year, which may be attributed to the approval of numerous Ethereum ETFs.
Remarkably, the fund was trading at over a 20% discount in mid-May, to its net asset value (NAV) before the U.S. Securities and Exchange Commission surprised many by approving several 19b-4 forms, overturning expectations that the SEC would reject spot Ether ETF applications.
Analysts predicted that Grayscale may witness substantial outflows based on market dynamics. This speculation was based on the performance of Grayscale Bitcoin Trust when it converted to an ETF.
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