Grayscale Launches New Fund Dedicated to MakerDAO’s MRK Token

Grayscale is launching a new fund dedicated to MakerDAO’s governance token, MKR, structured as a closed-end fund and accessible only to accredited investors, whether retail or institutional.
The launch of this fund follows a series of recent offerings from Grayscale, including funds for Bittensor (TAO), Sui (SUI), and a fund focused on decentralized artificial intelligence, investing in cryptocurrencies like Near, Render, and Filecoin.
MakerDAO, a key DeFi protocol, manages over $7 billion in assets and is undergoing a major transformation called “End Game,” aimed at improving the efficiency and resilience of the protocol.

Grayscalethe crypto asset management giant best known for its Bitcoin and Ethereum ETFs, has announced the launch of a New Fund Dedicated to MakerDAO Governance Token (MKR).

This fund, structured similarly to other single-asset funds offered by Grayscalewill be accessible only to accredited investors, whether individuals or institutions.

We are proud to announce the creation of a new single-asset crypto investment fund, available through private placement: Grayscale MakerDAO Trust $MKR.
Available to eligible accredited investors.
Read the press release: https://t.co/hOOWHk3bqO pic.twitter.com/5pIMaLUHwI
— Grayscale (@Grayscale) August 13, 2024

Fund structure and implications

THE Grayscale MakerDAO Trust is a closed-end fund, which means that investors will not be able to directly withdraw their shares from the fund. This structure may result in price differences between the fund's shares on secondary markets and the underlying value of the asset. This is a crucial point for investors, as these differences may create additional opportunities or risks depending on how the market evolves.

Grayscale Launch Background and Strategy

The launch of this fund dedicated to MakerDAO is part of a series of recent offers from Grayscale. In the past month, the company has also introduced single-asset funds for the decentralized artificial intelligence project Bittensor (TAO) and for blockchain layer 1 Follow (SUI). In addition, Grayscale launched a fund focused on decentralized artificial intelligence, investing in a basket of cryptocurrencies such as Near (NEAR), Render (RNDR) and Filecoin (THREAD).

MKR Performance and Role in DeFi

Following the announcement of Grayscalethe price of the token MKR quickly climbed more than 5% in an hourreaching $2,125.

MakerDAO is one of the most influential protocols in the decentralized finance ecosystem. This protocol, led by a decentralized autonomous organizationmanages more than $7 billion in assets crypto and in real world assetsincluding U.S. Treasury bonds. Token holders MKR have the opportunity to participate in governance decisions by voting on proposals that affect the future of the protocol.

One of the most important aspects of the protocol is DAI issuancethe third largest stablecoin on the market, with a market capitalization of around $5 billion. Currently, MakerDAO is undergoing a major transformation called “End Game“, initiated by its founder Rune Christensen. This process includes the Launch of improved versions of MKR and DAI tokensaimed at strengthening the efficiency and resilience of the protocol.

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