TechFlow news, August 13 — According to CoinDesk, asset management firm Grayscale announced the launch of a new single-asset fund, the Grayscale MakerDAO Trust, for MakerDAO's governance token MKR. This closed-end fund is available to eligible individual and institutional accredited investors. Similar in structure to Grayscale’s other single-asset trusts, it does not allow direct redemptions, which may lead to price deviations between the secondary market shares and the underlying asset.
Maker is one of the largest protocols in decentralized finance (DeFi), governed by its token holder community or decentralized autonomous organization (DAO). MKR token holders can participate in decision-making and vote on proposals. The protocol oversees more than $7 billion in cryptocurrency and real-world assets (RWA), including U.S. Treasuries, and issues $5 billion worth of the stablecoin DAI.
This launch follows Grayscale’s recent introduction of single-asset funds for TAO tokens from decentralized AI project Bittensor and Sui (SUI), a Layer-1 blockchain. Additionally, Grayscale has launched a fund focused on decentralized AI, investing in a basket of cryptocurrencies including NEAR, RNDR, and FIL.
