Grayscale unveils MakerDAO-focused trust, enhancing DeFi access for investors News ▸ US ▸ Investments
Grayscale unveils MakerDAO-focused trust, enhancing DeFi access for investors
Grayscale has launched three new crypto funds in the past month.
2 min read
Updated: Aug. 13, 2024 at 3:02 pm UTC
Cover art/illustration via CryptoSlate. Image includes combined content which may include AI-generated content.
Grayscale has launched a crypto investment trust fund for MakerDAO, according to an Aug. 13 statement shared with CryptoSlate.
This fund, named the Grayscale MakerDAO Trust, will give investors direct exposure to MakerDAO’s native MKR token. The firm stated:
“MKR provides investors exposure to an on-chain credit protocol, stablecoins, real-world assets, and more, through MakerDAO’s ecosystem.”
MakerDAO, a lending platform launched in 2017 on the Ethereum blockchain, supports the decentralized stablecoin DAI. According to DeFiLlama data, MakerDAO is the fourth-largest DeFi protocol, with assets totaling around $7 billion. Its DAI stablecoin ranks third in the industry, behind Tether’s USDT and Circle’s USDC.
Previously, Grayscale offered exposure to MakerDAO through its DeFi Fund, which also included assets like Uniswap, Lido, and Synthetix. However, the new Grayscale MakerDAO Trust will focus exclusively on the MKR token.
Rayhaneh Sharif-Askary, Grayscale’s Head of Product & Research, described the launch as a significant step in expanding the company’s crypto product lineup. She added:
“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 Trust is now available for daily subscriptions from eligible individual and accredited institutional investors.
Grayscale trusts
Meanwhile, this launch came shortly after Grayscale introduced its Bittensor Protocol and Sui Trusts, which also target native tokens of these ecosystems. The asset management firm now holds a Trust forovern 20 digital assets, including Solana, Litecoin, Chainlink, ZCash, and others.
According to CoinGlass data, the total value of assets under Grayscale’s crypto trust management is more than $7 billion.
Over the past year, Grayscale has successfully converted its Trusts in Bitcoin and Ethereum into spot exchange-traded funds (ETFs) in the US. These products are among the largest crypto ETFs, with combined assets nearing $20 billion.
Mentioned in this article
Maker 
Dai 
Ethereum 
Bittensor 
Solana 
Bitcoin 
Grayscale Investments Grayscale Ethereum Mini Trust 
Grayscale Bitcoin Trust Grayscale Ethereum Trust Author 
Oluwapelumi Adejumo
Oluwapelumi values Bitcoin's potential. He imparts insights on a range of topics like DeFi, hacks, mining and culture, underlining transformative power.
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In this article
Maker is a decentralized autonomous organization on the Ethereum blockchain seeking to minimize the price volatility of its own stable token — the Dai — against the IMF’s international currency basket SDR.
Dai
$0.99987
Dai (DAI) is a cryptocurrency token and operates on the Ethereum platform.
Ethereum
$3,337.17
Ethereum is a decentralized, open-source blockchain platform that enables the creation of smart contracts and decentralized applications (DApps).
Bittensor
$504.447
Bittensor is an open-source protocol that powers a decentralized, blockchain-based machine learning network.
Solana
$246.462
Solana is a high-performance blockchain platform that utilizes a unique consensus algorithm called “Proof of History” to achieve fast transaction speeds and low fees.
Bitcoin
$97,610.25
Bitcoin, a decentralized currency that defies the sway of central banks or administrators, transacts electronically, circumventing intermediaries via a peer-to-peer network.
Grayscale Investments
Established in 2013 by Digital Currency Group, Grayscale Investments is a trusted authority on digital currency investing and cryptocurrency asset management.
The Grayscale Ethereum Mini Trust (Ticker: ETH) is a pioneering investment vehicle designed to provide investors with exposure to Ethereum (ETH) through a regulated security format.
The Grayscale Bitcoin Trust (GBTC) is a digital currency investment product that provides investors with access to Bitcoin through traditional investment channels.
The Grayscale Ethereum Trust (ETHE) by Grayscale is an investment vehicle designed to offer investors exposure to Ethereum, one of the leading cryptocurrencies by market capitalization.
