Key Takeaways:
- Grayscale Pyth Trust: Grayscale has launched a new investment fund focused on the PYTH token, providing exposure to Pyth Network’s governance token.
- Pyth’s Role in Solana: The network supplies real-time market data to over 90 blockchains, with 95% of Solana’s decentralized apps relying on its price feeds.
- Grayscale’s Expansion: This launch follows recent investment funds for Dogecoin (DOGE), Lido (LDO), and Optimism (OP), highlighting Grayscale’s growing interest in altcoins.
Grayscale Investments has launched the Grayscale Pyth Trust, a new investment fund dedicated to PYTH, the governance token of the Pyth Network.
Announced on February 18, the fund is exclusively available to qualified investors, offering exposure to PYTH, which plays a crucial role in decentralized finance (DeFi).
We are proud to announce a new single-asset crypto investment fund, Grayscale Pyth Trust $PYTH.
— Grayscale (@Grayscale) February 18, 2025
Available to eligible accredited investors.
Learn more about $PYTH and see important disclosures: https://t.co/RVZKN5hD8Z pic.twitter.com/f52Qn3aLia
The Pyth Network operates as a decentralized oracle, providing real-time market data on cryptocurrencies, equities, and commodities to over 90 blockchain networks, including Solana.
Oracles bridge off-chain data, such as exchange prices, to on-chain smart contracts.
Notably, around 95% of Solana’s decentralized applications rely on Pyth’s price feeds.
Grayscale emphasized Pyth’s importance within the Solana ecosystem, stating that its real-time data feeds are essential for DeFi growth.
The company’s head of product and research, Rayhaneh Sharif-Askary, highlighted that the fund aims to provide higher-beta and higher-upside opportunities amid Solana’s expansion.
PYTH, launched in 2023, has a market capitalization exceeding $750 million.
This new trust expands Grayscale’s lineup of single-asset crypto investment products, following recent launches for Dogecoin (DOGE), Lido (LDO), and Optimism (OP).
Grayscale continues to dominate the crypto investment space with its flagship Bitcoin (GBTC) and Ethereum (ETHE) trusts.
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