Grayscale Establishes New Investment Trust for MakerDAO

Just days after launching two investment trusts for Bittensor and Sui crypto assets, Grayscale has announced a new trust fund to facilitate investor access to the MKR token of the decentralized lending platform MakerDAO.

Grayscale creates investment fund MarketDAO Trust

Similar to previous private offerings, the MakerDAO Trust is exclusively for accredited investors. This new fund adds to Grayscale’s existing portfolio of 20 cryptocurrency trusts, which includes tokens such as Bitcoin Cash, Chainlink, Decentraland, Mana, Ethereum Classic, and Solana.

Introduction to MakerDAO and Price Movements

MakerDAO, a lending project on the Ethereum platform launched in 2014, allows users to borrow the stablecoin DAI by over-collateralizing their assets. Notably, MakerDAO operates as a decentralized autonomous organization (DAO), not controlled by a single development team or entity. MKR token holders have the right to participate in decision-making and vote on proposals.

As one of the leading DeFi protocols, MakerDAO currently manages over $7 billion in cryptocurrency and real-world assets, including U.S. short-term treasury bonds. Additionally, the project manages DAI, the largest decentralized stablecoin to date, attracting interest from major real-world asset projects such as BlackRock’s BUIDL and Securitize funds, Ondo Finance, and Superstate.

Following this announcement, the price of DAO has surged by over 8%, currently trading around the $2,141 mark.

MKR price fluctuations after the fund establishment announcement (Source: Coinmarketcap)

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