Grayscale Investments Launches Grayscale Pyth Trust
Grayscale Investments, a prominent asset manager recognized for its bitcoin and ether exchange-traded funds (ETFs), announced on Tuesday the launch of the Grayscale Pyth Trust. This new investment vehicle provides investors with a unique opportunity to gain exposure to PYTH, the governance token of the Pyth network.
The Pyth network plays a vital role in the decentralized finance (DeFi) ecosystem by delivering critical price feeds that enhance the efficiency of decentralized applications. It aggregates pricing information from a diverse range of institutional traders and market makers, ensuring that updates are timely and accurate. This data is particularly essential within the Solana ecosystem, where approximately 95% of decentralized protocols rely on the Pyth network’s information, according to Grayscale.
“The Pyth network is instrumental to the operational framework of the Solana ecosystem,” stated Rayhaneh Sharif-Askary, Grayscale’s head of product and research. “With the introduction of the Grayscale Pyth Trust, we aim to provide investors with access to additional higher-beta and higher-upside opportunities, particularly as we witness the ongoing growth of Solana.”
This newly established trust is available exclusively for accredited investors and follows the established model of Grayscale’s other single-asset investment trusts, which focus solely on holding PYTH tokens. Grayscale is well-known for its flagship products, including the Grayscale Bitcoin Trust (GBTC) and the Ethereum Trust (ETHE), both of which transitioned into an ETF structure last year.
Disclaimer: Parts of this article were generated with the assistance of AI tools and reviewed by our editorial team to ensure accuracy and adherence to our standards. For more information, see CoinDesk’s full AI Policy.
