Grayscale Investments has announced its plan to launch Grayscale Pyth Trust, a new investment vehicle for accredited U.S. investors to gain exposure to the PYTH governance token. This trust is set up to make it easier for people to invest in the token by using a regulated security format.
The Pyth network delivers real-time price information to decentralized applications, or dApps, especially on Solana. In fact, 95% of Solana’s dApps use information from Pyth.
This makes the PYTH token highly valuable within the Solana ecosystem. Grayscale sees this as a great opportunity for investors to tap into the market.
“The Pyth network plays one of the most significant roles in the Solana ecosystem,” said Rayhaneh Sharif-Askary, Grayscale’s Head of Product & Research, in the press release. “By introducing 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 Pyth Trust is launching at a moment when there are more people who want to invest in the PYTH token. The token was listed on Binance last year, which pumped its price and made it more accessible. In November 2024, VanEck also launched a Pyth Exchange Traded Note (ETN) in 15 European countries.
More recently, Robinhood added the PYTH token to its platform, making it possible for more day-to-day investors to buy and sell.
Also Read: Robinhood to Launch Crypto Services in Singapore by 2025
