Maker

(Tuesday 13 August 2024, 02:48 PM GMT):In the cryptocurrency market today, MakerDAO&#39;s governance token, MKR, experienced a surge of &#43;4.39%, bringing its trading price to approximately $2,100. This positive price action comes on the heels of a significant announcement by Grayscale, a leading asset management firm in the crypto space.Grayscale has <a href="https://t.co/hOOWHk3bqO" rel="noopener noreferrer nofollow">launched </a>a new fund called the Grayscale MakerDAO Trust. This closed-end fund is designed to provide accredited individual and institutional investors with exposure to MKR. However, similar to Grayscale&#39;s other single-asset trusts, investors won’t be able to withdraw their assets directly, which could lead to a difference between the fund&#39;s share price and the actual market price of MKR.<img src="https://academy-public.coinmarketcap.com/optimized-uploads/ee42c0ff45f64527bc2bc1bfcdddec18.png" />Source: <a href="https://x.com/Grayscale" rel="noopener noreferrer nofollow">X</a>MakerDAO is a heavyweight in the decentralized finance (DeFi) world, overseeing more than $7 billion in cryptocurrencies and real-world assets. The protocol is also known for issuing DAI, a popular stablecoin with a market cap of $5 billion.In addition to the MakerDAO Trust, Grayscale has recently <a href="https://coinsprobe.com/sui-and-bittensor-surges-higher-after-grayscales-trust-launch/" rel="noopener noreferrer nofollow">introduced </a>similar single-asset funds, including one for Bittensor’s TAO token and another for the Layer-1 blockchain Sui (SUI). They’ve also rolled out a fund focusing on cryptocurrencies powering decentralized AI projects, showcasing Grayscale’s commitment to expanding its range of investment options in the crypto market.

MakerDAO Token Surges Following Grayscale’s Trust Launch

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