Crypto-focused asset manager Grayscale has announced the creation and launch of Grayscale Pyth Trust.
Pyth Trust is a single asset crypto investment fund designed to provide exposure to Pyth Network (Pyth), the native governance token of the Oracle Network ecosystem.
According to Grayscale, the launch has resulted in another product that tracks one of the top projects in the Solana (Sol) ecosystem.
“The Pyth Network plays one of the most important roles in the Solana Ecosystem,” said Rayhaneh Sharif-Askary, Head of Products & Research at Grayscale. “By introducing Grayscale Pyth Trust, we aim to provide investors with access to the additional, higher betta and higher ventral opportunities associated with Solana's continued growth.”
Almost 95% of Solana's distributed applications leverage Pyth's price supply to secure data in real time.
Grayscale Pyth Trust will be added to other single asset crypto funds offered by asset managers, including XRP, SUI, and Dogecoin.
Like these products, Grayscale Pyth Trust provides exposure to Pyth. This is the only asset the trust invests in. The company has launched the Pyth Trust Fund for daily subscriptions to eligible accredited investors.
Beyond Crypto Trust Funds, Grayscale issuing exchange trade funds with its spot Bitcoin and Ethereum ETFs, among the pioneer groups approved by the U.S. Securities and Exchange Commission in January 2024.
Earlier this year, Grayscale launched the Grayscale Bitcoin Miners ETF. This provides for exposure to Bitcoin mining companies and Bitcoin mining.
The company also provides private funds that seek to optimize income by allowing investors to allocate capital to a portfolio of proof tokens. The Grayscale Dynamic Income Fund invests in a portfolio that includes Solana, Stacks, and Near.
