2024-08-15 00:24:13
Investing.com – Grayscale Investments, a pioneer in creating crypto-based investment products, has launched a new fund backed by MakerDAO’s governance asset, MKR.
The MakerDAO Grayscale Trust provides qualified investors with the opportunity to invest in MKR, the native asset of the MakerDAO platform, which operates on the network. With this action, Greyscale expands its portfolio of investment products in crypto assets, recently including funds backed by altcoins Sui and Bittensor.
Grayscale, the world’s largest cryptocurrency fund manager, manages assets worth more than $25 billion. Among its most notable products are the Grayscale Trust (GBTC) and the Grayscale Ethereum Trust (ETHE), which are ETFs focused on Bitcoin and ether, respectively.
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MakerDAO is one of the oldest platforms in the cryptocurrency ecosystem, operating as a decentralized financial protocol for years. It offers Dai, a stable cryptocurrency pegged to , and a variety of crypto-based credit products. He recently attracted attention when he decided to invest 1 billion dollars in United States Treasury Bonds.
Rayhaneh Sharif-Askary, Director of Products and Research at Greyscale, said of the new fund:
“The creation of the MakerDAO Grayscale Trust allows investors to benefit from the growth of the MakerDAO ecosystem. In addition, the ecosystem seeks to reduce dependence on traditional financial infrastructures by providing an open, permission-free decentralized stable system, strengthening DeFi. “
Dave LaValle, global president of ETFs at Greyscale, expects that crypto ETFs will soon include new asset classes and diversified indices. LaValle also indicated that in the future there will be a wider variety of products based on indices and individual assets.
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