Grayscale Launches Pyth Trust to Enhance Investor Access in Solana

Grayscale Pyth Trust provides accredited investors exposure to PYTH, the vital governance token for Solana’s leading oracle network.

What to know:

Grayscale’s new investment trust offers access to PYTH, underpinning the Pyth oracle network.
Pyth delivers real-time price data crucial for decentralized applications in the Solana ecosystem.
Accredited investors can subscribe daily to the trust.

Asset manager Grayscale Investments has introduced the Grayscale Pyth Trust, designed to afford investors access to PYTH, the governance token for the Pyth network. This network is integral in supplying price feeds necessary for decentralized applications, which source data from institutional traders and market makers—particularly beneficial in decentralized finance (DeFi) contexts.

Grayscale emphasized that approximately 95% of decentralized protocols in Solana utilize Pyth’s data.

“The Pyth network plays one of the most significant roles in the Solana ecosystem,” says Rayhaneh Sharif-Askary, Grayscale’s head of product and research. “By introducing the 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 is exclusively available to accredited investors and aligns with Grayscale’s investment trusts that hold single assets, such as the Grayscale Bitcoin Trust (GBTC) and Ethereum Trust (ETHE), both of which transitioned into an ETF structure last year.

Disclaimer: Parts of this article were generated with AI tools and were subject to a thorough editorial process.