Grayscale Investments has announced the launch of a new investment fund focused on MakerDAO’s governance token, MKR. The Grayscale MakerDAO Trust provides investors with exposure to MKR, a key component of the Ethereum-based decentralized finance (DeFi) protocol, MakerDAO.
This closed-end fund is not currently available for trading on exchanges and is restricted to qualified investors. The introduction of the MakerDAO Trust expands Grayscale’s portfolio of single-asset crypto investment products, which already includes funds for Bittensor’s TAO and Sui’s native tokens.
MakerDAO is renowned for its role in issuing the Dai stablecoin, a dollar-pegged cryptocurrency and overseeing a broader ecosystem of on-chain credit products. Recently, MakerDAO outlined plans to invest a substantial $1 billion in tokenized US Treasury bonds.
Grayscale’s head of product and research, Rayhaneh Sharif-Askary, expressed optimism about the fund, stating that it offers investors the opportunity to participate in the growth of the entire MakerDAO ecosystem.
Similar to Grayscale’s other single-asset trusts, the MakerDAO Trust does not permit redemptions and mandates a minimum holding period of one year before shares can be resold in the secondary market. The fund carries a management fee of 2.5%.
The launch of the Grayscale MakerDAO Trust underscores the growing institutional interest in DeFi and the MakerDAO ecosystem. As the DeFi landscape continues to evolve, products like this are expected to play a crucial role in bridging the gap between traditional finance and the decentralized world.
