Grayscale, one of the largest asset management companies, has announced a fund for a new altcoin.
Accordingly, Grayscale announced the launch of the Grayscale PYTH Trust, which provides access to PYTH.
Grayscale has announced that its new investment product, the Grayscale PYTH Trust, provides investors with exposure to PYTH.
It was also noted that the PYTH Trust is only open to accredited investors and only holds PYTH tokens, following the model of Grayscale’s other single-asset investment trusts.
Rayhaneh Sharif-Askary, Grayscale’s head of product and research, said of the PYTH Trust that Pyth is important to the Solana ecosystem:
“The Pyth network plays one of the most important roles in the Solana ecosystem.
“By introducing the Grayscale Pyth Trust, we aim to provide investors with access to additional high beta and high yield opportunities associated with Solana’s continued growth.”
Following the news, the PYTH price started to rise.
We are proud to announce a new single-asset crypto investment fund, Grayscale Pyth Trust $PYTH .
Available to eligible accredited investors.
Learn more about $PYTH and see important disclosures: https://t.co/RVZKN5hD8Z pic.twitter.com/f52Qn3aLia
— Grayscale (@Grayscale) February 18, 2025
*This is not investment advice.
