Grayscale Investments has unveiled the Grayscale Pyth Trust, a new investment vehicle designed for accredited U.S. investors seeking exposure to the PYTH governance token. The trust provides a regulated security format to facilitate easier investments in the token.
The Pyth network, which provides real-time price data to decentralized applications (dApps), plays a crucial role within the Solana ecosystem. Around 95% of Solana’s dApps rely on information sourced from Pyth, making the PYTH token particularly valuable to the network. Grayscale views this as a strategic opportunity for investors looking to capitalize on the growth of the Solana ecosystem.
Rayhaneh Sharif-Askary, Grayscale’s Head of Product & Research, stated, “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.”
The trust’s launch coincides with growing investor interest in the PYTH token. Following its listing on Binance in 2024, the token experienced a price surge and gained greater accessibility. In addition, VanEck introduced a Pyth Exchange Traded Note (ETN) in 15 European countries last November, and Robinhood recently added the PYTH token to its platform, enabling more retail investors to buy and sell.
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