Grayscale Launches New Fund for MakerDAO’s MKR Token
Grayscale Investments has launched a new fund focused on MakerDAO's governance token, MKR.
This new fund, known as the Grayscale MakerDAO Trust, is available to accredited individual and institutional investors and follows the same structure as Grayscale’s other single-asset trusts.
It operates as a closed-end fund, which means direct withdrawals are not possible, potentially leading to price differences between the fund’s shares on secondary markets and the underlying asset.
MakerDAO, a major decentralized finance (DeFi) protocol, functions as a decentralized autonomous organization (DAO) where MKR token holders have a say in governance and decision-making.
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The protocol manages over $7 billion in assets, including U.S. Treasuries, and issues the DAI stablecoin, which is the third largest in the market.
Currently, MakerDAO is in the midst of a significant transformation known as “End Game,” introduced by founder Rune Christensen. This revamp includes plans to issue updated versions of MKR and DAI.
Alexander Stefanov
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