2025-02-19
Grayscale Investments, a company that
specializes in cryptocurrency investments, has launched a new investment
product called the Grayscale Pyth Trust.
This fund allows qualified investors to
invest in PYTH, the main token used in the Pyth Network.
Pyth Network provides accurate,
real-time price data for cryptocurrencies, stocks, and commodities.
It connects outside financial data
(such as stock prices or exchange rates) to blockchain-based smart contracts.
95% of applications on Solana, a major
blockchain network, rely on Pyth’s data.
Grayscale believes that as Solana grows,
Pyth will also become more valuable.
The fund aims to provide investors with
high-growth opportunities linked to Solana’s expansion.
Only accredited investors (those who
meet certain wealth/income requirements) can invest. The fund is not available
to the general public.
This new PYTH fund adds to Grayscale’s growing
list of single-asset crypto investment products.
They recently launched funds for Dogecoin
(DOGE), Lido (LDO), and Optimism (OP).
Grayscale is also well known for its Bitcoin
(BTC) and Ethereum (ETH) investment funds.
Solana’s total value increased
significantly in 2024 due to meme coin trading.
Grayscale's Pyth Trust is a way for
wealthy investors to bet on the future success of Pyth and Solana.
PYTH has a market cap of $742 million.
This makes PYTH the world's 91st most valuable crypto by market
cap.
