{"id":16065,"date":"2024-08-13T17:42:04","date_gmt":"2024-08-13T14:42:04","guid":{"rendered":"https:\/\/forklog.com\/en\/grayscale-to-launch-mkr-based-trust\/"},"modified":"2024-08-13T17:42:04","modified_gmt":"2024-08-13T14:42:04","slug":"grayscale-to-launch-mkr-based-trust","status":"publish","type":"post","link":"https:\/\/forklog.com\/en\/grayscale-to-launch-mkr-based-trust\/","title":{"rendered":"Grayscale to Launch MKR-Based Trust"},"content":{"rendered":"<p>Digital asset manager Grayscale Investments has announced the launch of a closed-end fund for MakerDAO (MKR).<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">We are proud to announce the creation of a new single-asset crypto investment fund, available through private placement: Grayscale MakerDAO Trust <a href=\"https:\/\/twitter.com\/search?q=%24MKR&#038;src=ctag&#038;ref_src=twsrc%5Etfw\">$MKR<\/a>.<\/p>\n<p>Available to eligible accredited investors.<\/p>\n<p>Read the press release: <a href=\"https:\/\/t.co\/hOOWHk3bqO\">https:\/\/t.co\/hOOWHk3bqO<\/a> <a href=\"https:\/\/t.co\/5pIMaLUHwI\">pic.twitter.com\/5pIMaLUHwI<\/a><\/p>\n<p>\u2014 Grayscale (@Grayscale) <a href=\"https:\/\/twitter.com\/Grayscale\/status\/1823344304456429827?ref_src=twsrc%5Etfw\">August 13, 2024<\/a><\/p><\/blockquote>\n<p> <script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>The decision is driven by a desire to provide market participants with access to emerging parts of the cryptocurrency ecosystem, according to the press release.<\/p>\n<p>The product is intended for individual and institutional accredited investors. It operates similarly to other trusts, requiring an application to the company for subscription\/redemption.<\/p>\n<p>Grayscale has pledged to strive for listing the fund on the secondary market. However, the company does not guarantee a successful outcome.<\/p>\n<p>This new instrument will continue the expansion of the product line. Previously, it included trusts based on <a href=\"https:\/\/www.globenewswire.com\/en\/news-release\/2024\/08\/07\/2925970\/0\/en\/Grayscale-Investments-Launches-Two-New-Product-Offerings-Grayscale-Bittensor-Trust-and-Grayscale-Sui-Trust.html\">Bittensor and Sui<\/a>, as well as token baskets focused on AI.<\/p>\n<p>According to <a href=\"https:\/\/www.coingecko.com\/en\/categories\/stablecoins\">CoinGecko<\/a>, the capitalization of the MakerDAO-issued stablecoin DAI is $5.2 billion. In its segment, the token ranks third, behind USDT and USDC.<\/p>\n<p>Earlier in August, the <span data-descr=\"New York Stock Exchange\" class=\"old_tooltip\">NYSE<\/span> approached the <span data-descr=\"U.S. Securities and Exchange Commission\" class=\"old_tooltip\">SEC<\/span> with a proposal to amend rules that would allow it to list and offer trading options based on spot Ethereum ETFs from Bitwise and Grayscale.<\/p>\n<p>Previously, asset manager Hashdex submitted an S-1 form to the Commission to launch the combined exchange-traded fund Hashdex Nasdaq Crypto Index US ETF based on Bitcoin and Ethereum.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Digital asset manager Grayscale Investments has announced the launch of a closed-end fund for MakerDAO (MKR). 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 \u2014 Grayscale (@Grayscale) August 13, 2024 [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":16064,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"","news_style_id":"","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[943,1100],"class_list":["post-16065","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-grayscale-investments","tag-makerdao"],"aioseo_notices":[],"amp_enabled":true,"views":"22","promo_type":"","layout_type":"","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/16065","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/comments?post=16065"}],"version-history":[{"count":0,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/16065\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media\/16064"}],"wp:attachment":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media?parent=16065"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/categories?post=16065"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/tags?post=16065"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}