Grayscale Launches a Crypto Fund for MakerDAO's MKR

TL;DR

• Grayscale has launched a new single-asset fund for MakerDAO's governance token.

• The asset manager launched a SUI fund last week.

Grayscale Launches a MKR Fund

Grayscale, the asset manager company behind bitcoin (BTC) and ether (ETH) exchange traded funds (ETFs) and other crypto investment funds, announced on Tuesday that it has launched a new fund that invests in the MakerDAO (MKR) token.

MKR is the governance token of the MakerDAO decentralized lending platform. The Grayscale MakerDAO Trust is currently available to eligible individual and institutional accredited investors. The fund has a similar structure as Grayscale’s other single-asset trusts. 

Maker is one of the leading DeFi protocols and is operated by a community of token holders, or decentralized autonomous organization (DAO). MKR token holders participate in decision-making and vote on proposals.

This latest development comes roughly after Grayscale launched a new Sui fund. The Grayscale Sui Trust solely focuses on the Sui protocol's SUI token. Grayscale also has trusts related to Solana, Litecoin, Stellar, Zcash, NEAR, STX, Chainlink, Decentralized, and other crypto investment products.

MKR has been up 7% in the last 24 hours and is trading at $2,134 per coin.