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The maker (MKR-USD) cryptocurrency spiked 9.4% in Tuesday morning trading after asset manager Grayscale Investments rolled out a new crypto fund that offers investors the opportunity to gain exposure to the token.
Maker (MKR-USD) is the utility and governance token for the Ethereum-based, autonomous organization MakerDAO.
The introduction of the new fund, called Grayscale MakerDAO Trust, “allows investors to experience the growth of the entire MakerDAO ecosystem, aiming to remove DeFi’s dependency on traditional finance infrastructure by providing a permissionless, decentralized, and open stablecoin system,” said Rayhaneh Sharif-Askary, head of Product & Research at Grayscale.
The fund, which solely invests in maker (MKD-USD), is now open for daily subscription by eligible individual and institutional accredited investors.
Grayscale’s move comes as the firm seeks to further expand its suite of products, amid increased demand for crypto exposure. Last week, it launched two crypto funds that invest in the native tokens of the Bittensor protocol and the Sui protocol.
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