Digital asset manager Grayscale has announced the launch of its MakerDAO Trust, a new single-asset cryptocurrency investment fund through private placement. This follows a similar rollout of other crypto-based trusts to create investor exposure in the market. The price of MKR reacted positively with a 5% uptick.

Grayscale Rolls Out MakerDAO Trust 

In an Aug 13 press release, Grayscale announced the public launch of a MakerDAO Trust adding to its growing list of products. This move allows investors to gain market exposure to MKR, the utility governance token of the Ethereum-based autonomous organization, MakerDAO. 

Per the statement, the Trust is open to institutional and individual investors for daily subscriptions and functions like previous funds which will underpin investors to MakerDAO. Rayhaneh Sharif-Askary, the company’s Head of Research and Products pointed to the demand by investors for more crypto products stressing the firm’s commitment to innovative investment opportunities.

“The launch of the Grayscale MakerDAO Trust allows investors to experience the growth of the entire MakerDAO ecosystem, aiming to remove DeFi’s dependency on traditional finance infrastructure by providing a permissionless, decentralized, and open stablecoin system.”

The post Breaking: Grayscale Launches MakerDAO Trust, MKR Price Soars 5% appeared first on CoinGape.

---

Filed under: News - @ August 13, 2024 1:44 pm