Grayscale Unveils MakerDAO Trust, MKR Rises 7% Following Launch
- The fund will invest in a single asset, MKR, and will be launched via private placement.
- In response to rising demand, Grayscale introduced two new investment products last week.
A new cryptocurrency investment fund called MakerDAO Trust has been unveiled by digital asset manager Grayscale. The fund will invest in a single asset and will be launched via private placement. Other crypto-based trusts have also been launched in a similar vein, exposing investors to the market. As a result, the value of MKR rose by 7.02% at the time of writing.
Grayscale added another product to its expanding lineup with the public introduction of a MakerDAO Trust on August 13, according to a press release. With this change, MakerDAOs utility governance token, MKR, may be more widely exposed to investors. MakerDAO is an autonomous organization built on Ethereum.
Strong Demand from Investors
According to the announcement, both individual and institutional investors may subscribe to the Trust on a daily basis, and it will continue to underpin investors to MakerDAO. The companys Head of Research and Products, Rayhaneh Sharif-Askary, highlighted the strong demand from investors for further crypto products, highlighting the firms dedication to provide unique investment alternatives.
After releasing more than 20 products, the digital asset manager expressed optimism and reaffirmed its commitment to providing innovative solutions inside the cryptocurrency ecosystem. Customers of DeFi, who are looking to lessen their reliance on conventional banking, have praised the move across cryptocurrency markets. In response to rising demand, Grayscale introduced two new investment products last week: the Bittensor Trust and the Sui Trust.
As a result, more and more institutional investors are getting into the cryptocurrency market, which boosts adoption. In recent years, Grayscale has played a significant role in propelling this expansion.
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Text source: TheNewsCrypto – Blockchain & Cryptocurrency News M
