Grayscale Launches MakerDAO Trust to Expand Its Digital Asset Investment Products Offering

The world’s largest crypto manager, Grayscale, launched a closed-end MakerDAO Trust designed to expand its digital asset investment products offering.

Grayscale, the world's largest crypto manager, has announced the launch of a closed-end MakerDAO Trust, expanding its digital asset investment products offering.

This marks Grayscale's third single-asset trust announcement within a week, following funds for Bittensor's TAO cryptocurrency and the Layer 1 network Sui token.

The new trust will allow qualified investors and institutions to gain exposure to MakerDAO's (MKR) governance token, which provides exposure to several yield-generating assets and products, including stablecoins, real-world assets (RWAs), and on-chain credit through MakerDAO's ecosystem, according to the press release.

We are proud to announce the creation of a new single-asset crypto investment fund, available through private placement: Grayscale MakerDAO Trust $MKR.

Available to eligible accredited investors.

✭ Read the press release: https://t.co/hOOWHk3bqO pic.twitter.com/5pIMaLUHwI

Demand Racks Up for Crypto Exposure

It's worth noting that the fund is not an exchange-traded product. As mentioned, it's a closed-end fund with no direct withdrawals. This could lead to the fund's shares trading at a premium or discount compared to the underlying asset's value, leading to price deviations.

Explained in simple terms (somewhat), the fund's share price on secondary markets is determined by supply and demand rather than directly reflecting the underlying asset's value.

This can cause the share price to trade at a premium or discount compared to the actual asset, leading to potential price deviations.

More Assets in The Pipeline?

Dave Lavalle, Global Head of ETFs at Grayscale, said the industry could see more single crypto-asset products and some index-based and diversified products. However, investors' sentiment seems mixed.

For example, Brazil approved a Solana ETF as interest in the coin is notably high within the country. In the US, things seem divided. Asset managers like VanEck and 21Shares have filed for spot Solana ETFs with the Securities and Exchange Commission (SEC).

But BlackRock has not noted any interest from their clients in any asset except Bitcoin and Ethereum.

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