Grayscale Announces New Altcoin Investment Product! Price Soars!

According to Coindesk, Grayscale announced the launch of a new cryptocurrency investment product.

Accordingly, Garyscale is launching a new single-asset fund for MakerDAO (MKR).

Grayscale introduced a new fund on Tuesday investing in the governance token of decentralized lending platform MakerDAO (MKR).

Grayscale said in a statement that the MakerDAO Trust is open to eligible individual and institutional accredited investors.

The Trust offers investors exposure to MKR, the utility and governance token for the Ethereum-based, autonomous organization MakerDAO.

Rayhaneh Sharif-Askary, Head of Product and Research at Grayscale, said in a statement:

“As demand for crypto exposure continues to grow, Grayscale is committed to expanding our product suite and providing innovative investment opportunities.

“The launch of the Grayscale MakerDAO Trust allows investors to experience the growth of the entire MakerDAO ecosystem and aims to eliminate DeFi’s dependency on traditional financial infrastructure by providing a permissionless, decentralized, and open stablecoin system.”

Following this announcement, the MKR price started to rise.

Grayscale also launched two trusts last week, investing in Sui (SUI) and Bittensor (TAO).

The company also launched a number of cryptocurrency funds a few months ago, including Near (NEAR), Render (RNDR), and Filecoin (FIL).

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

— Grayscale (@Grayscale) August 13, 2024

*Not investment advice