The post Grayscale launches Pyth Trust to expand opportunities on Solana appeared on BitcoinEthereumNews.com.

Crypto-focused asset manager Grayscale has announced the creation and launch of the Grayscale Pyth Trust. Pyth Trust is a single-asset crypto investment fund designed to offer exposure to Pyth Network (PYTH), the native governance token of the oracle network’s ecosystem.  The launch brings another product tracking one of the top projects in the Solana (SOL) ecosystem, Grayscale said in a press release. “The Pyth network plays one of the most significant roles in the Solana ecosystem,” Rayhaneh Sharif-Askary, Grayscale’s head of product & research,said. “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.” Nearly 95% of decentralized applications on Solana leverage Pyth’s price feeds for real-time and secure data. Grayscale Pyth Trust adds to other single-asset crypto funds offered by the asset manager, including those for XRP, Sui, and Dogecoin. Like these products, the Grayscale Pyth Trust will offer exposure to PYTH, with this being the only asset the trust invests in. The company has opened the Pyth Trust fund for daily subscriptions to eligible accredited investors. Beyond its crypto trust funds, Grayscale issues exchange-traded funds, with its spot Bitcoin and Ethereum ETFs among the pioneer group approved by the U.S. Securities and Exchange Commission in January 2024. Earlier this year, Grayscale launched the Grayscale Bitcoin Miners ETF, which offers exposure to Bitcoin mining companies and the Bitcoin mining industry. The firm also offers private funds that seek to optimize income by allowing investors to allocate capital into a portfolio of proof-of-stake tokens. The Grayscale Dynamic Income Fund invests in a portfolio that includes Solana, Stacks, and NEAR, among others. Source: https://crypto.news/grayscale-launches-pyth-trust-to-expand-opportunities-on-solana/

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Filed under: News - @ February 18, 2025 10:24 pm