Grayscale Launches Pyth Trust to Offer Investor Access to PYTH Token
Grayscale Investments has launched the Grayscale Pyth Trust, allowing accredited investors to gain exposure to PYTH, the governance token of the Pyth network. Key points include:
- Pyth provides essential price feeds for decentralized applications, sourcing data from institutional traders and market makers.
- The Pyth network is vital for the Solana ecosystem, with 95% of its decentralized protocols relying on its data.
- The trust follows Grayscale's model of single-asset investment trusts, exclusively holding PYTH tokens.
- Grayscale is known for its Bitcoin and Ethereum trusts, which transitioned into ETF structures last year.