3 weeks ago
Asset manager Grayscale Investments, known for its bitcoin and ether exchange-traded funds (ETFs), said connected Tuesday it has launched the Grayscale Pyth Trust, giving investors vulnerability to PYTH, the governance token of the Pyth network.
Pyth provides terms feeds that assistance decentralized applications relation efficiently. The web sources pricing accusation from organization traders and marketplace makers and delivers updates that are captious for decentralized concern (DeFi) applications. Pyth's services are peculiarly important successful the Solana ecosystem, wherever 95% of decentralized protocols usage the network's data, Grayscale said.
“The Pyth web plays 1 of the astir important roles successful the Solana ecosystem,” said Rayhaneh Sharif-Askary, Grayscale’s caput of merchandise and research. “By introducing the Grayscale Pyth Trust, we purpose to springiness investors entree to further higher-beta and higher-upside opportunities associated with the continued maturation of Solana.”
The spot is disposable for accredited investors lone and follows the exemplary of Grayscale’s different single-asset concern trusts, holding lone PYTH tokens. Grayscale is known for products similar the Grayscale Bitcoin Trust (GBTC) and Ethereum Trust (ETHE), which were converted into an ETF operation past year. Read more: Pyth Oracle Network Brings Industry Heavyweights Into Governance Post-Airdrop Disclaimer: Parts of this nonfiction were generated with the assistance from AI tools and reviewed by our editorial squad to guarantee accuracy and adherence to our standards. For much information, spot CoinDesk’s afloat AI Policy.
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