Grayscale Launches New Trust for Pyth Token, Expanding Crypto Portfolio

Coin WorldTuesday, Feb 18, 2025 9:42 am ET
1min read

Grayscale Expands Product Range with New Pyth Trust

Crypto asset management firm Grayscale Investments has announced the launch of a new investible asset, the Grayscale Pyth Trust. This new product offers accredited investors exposure to PYTH, the governance token of the Pyth network. The Grayscale Pyth Trust is open for daily subscription to eligible individual and institutional accredited investors and functions similarly to Grayscale’s other single-asset investment trusts, focusing solely on the PYTH token.

Grayscale’s strategic initiatives position it as a notable conduit for investors seeking exposure to various digital assets. The firm has consistently expanded its product suite, with the introduction of the Grayscale Pyth Trust providing investors access to a pivotal component of the Solana ecosystem.

PYTH was identified as a potential asset for Grayscale’s future investment offering in its most recent review, which identified 39 potential assets for its future product catalog. The selection of PYTH highlights the increasing importance of oracle networks like Pyth in the broader blockchain space.

The Pyth network plays a significant role in the Solana ecosystem, delivering accurate and real-time data feeds essential for decentralized applications (dApps). According to Solana Compass, 95% of dApps on Solana rely on Pyth’s price feeds, highlighting its critical role and market dominance.

“The Pyth network plays one of the most significant roles in the Solana ecosystem. By introducing Grayscale Pyth Trust, we aim to give investors access to additional higher-beta and higher-upside opportunities associated with the continued growth of Solana,” said Grayscale’s Head of Product & Research, Rayhaneh Sharif-Askary in a statement shared with BeInCrypto.

Grayscale’s Growing Bet on Altcoins

Meanwhile, this launch is part of Grayscale’s broader strategy to diversify its investment products. The firm introduced the Grayscale Dogecoin Trust in January, capitalizing on the growing interest in alternative cryptocurrencies. The Dogecoin Trust came only weeks after Grayscale launched the Horizen Trust, providing investors with exposure to ZEN, the native token of the Horizen network. This move was followed by introducing trusts based on Lido DAO and Optimism, reflecting Grayscale’s commitment to supporting decentralized finance (DeFi) and layer-2 scaling solutions.

Beyond these, Grayscale also runs X

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