Grayscale Launches Pyth Trust for Accredited Investors

Grayscale Investments has introduced the Grayscale Pyth Trust, a new investment vehicle offering accredited investors exposure to PYTH, the governance token of the Pyth oracle network.

Pyth delivers real-time price feeds essential for decentralized applications (dApps), particularly within the Solana ecosystem, where it powers 95% of protocols. The network sources pricing data from institutional traders and market makers, ensuring reliable updates for decentralized finance (DeFi) applications.

Rayhaneh Sharif-Askary, Grayscale’s head of product and research, emphasized Pyth’s significance, stating, “The Pyth network plays one of the most significant roles in the Solana ecosystem.” She noted that the trust provides investors with exposure to Solana’s potential high-growth opportunities.

Grayscale, a leader in crypto investment products, is expanding its portfolio beyond Bitcoin (BTC) and Ethereum (ETH) ETFs with this new trust, which exclusively holds PYTH tokens. Modeled after successful products like Grayscale Bitcoin Trust (GBTC) and Ethereum Trust (ETHE), the Pyth Trust is available for daily subscription but limited to accredited investors.

This launch reinforces Grayscale’s strategy to diversify its digital asset offerings, catering to institutional investors seeking exposure to the growing blockchain ecosystem.