MakerDAO price surpassed $2.140 in the market on August 13 after Grayscale Investments announced its new MKR-based investment fund.
Digital asset investment manager Grayscale Investments continues to advance the cryptocurrency investment space, launching a new fund that further expands investor accessibility to this new asset class.
This new fund, called Grayscale MakerDAO Trust, offers investors a simplified path to access MKR, the utility and governance token of the MakerDAO decentralized protocol, one of the most prominent in the decentralized finance (DeFi) ecosystem.
The launch of this new investment fund comes amid growing interest in cryptocurrencies and digital assets.
Grayscale Expands Product Offering Amid Growing Cryptocurrency Demand
The Grayscale MakerDAO Trust is presented as a response to the growing demand for cryptocurrency-based investment products.
Rayhaneh Sharif-Askary, head of product and research at Grayscale Investments, he highlighted the importance of this launch, stating that, as demand for exposure to cryptocurrencies and digital assets continues to grow, Grayscale is committed to expanding its suite of products and services, to offer investors innovative investment opportunities in this space .
With the launch of this new product, Grayscale expands its crypto investment fund offering to more than 20 products, reflecting its commitment to making it easier for both individual and institutional investors to access crypto assets securely, without the complications associated with the purchase, storage and management involved in self-custody of cryptocurrencies.
Through the Grayscale MakerDAO Trust, the firm offers its investors a similar investment structure to its other cryptoasset investment funds, focusing exclusively on the MKR token. This structure will allow the fund's investors to benefit from the entire MakerDAO ecosystem.
“The fund offers investors the opportunity to gain exposure to MKR, the utility and governance token of the Ethereum-based autonomous organization MakerDAO.”, highlighted MakerDAO.
The Impact on MakerDAO Price
MakerDAO, which has been a pillar in the development of decentralized finance, is currently positioned as the 39th cryptocurrency in the market, with a market capitalization of $1.990 billion, at the time of writing this article.
According to data from CoinMarketCap, the MKR price rose 8% following news of Grayscale's new fund. In the last week, the price of the token has increased more than 12%, according to platform data, and is trading at around $2.140 per unit.
Source: CoinMarketCap
MakerDAO is one of the most innovative protocols in the crypto ecosystem, offering a variety of financial services on the Ethereum blockchain, including stablecoins and real asset lending, so with the launch of its new investment fund, Grayscale is not only looking to expand investor accessibility to the MKR token, but also encourage the adoption of this digital ecosystem, as one of the most advanced and useful decentralized financial solutions in the crypto space.
As noted by Sharif-Askary, the Grayscale MakerDAO Trust will provide investors with an avenue to experience the growth of a stable and decentralized system that seeks to eliminate dependence on traditional financial infrastructure.
In addition to this new MakerDAO fund, Grayscale recently launched two other cryptocurrency-based investment products, the Grayscale Bittensor Trust and the Grayscale Sui Trust, which invest in the TAO and SUI tokens, respectively.
The expansion of Grayscale's cryptoasset financial product offering reaffirms its commitment to leading the way toward greater adoption of cryptocurrencies and decentralized finance.
