The Grayscale Investments Asset Manager, known for his funds quoted in Bitcoin and Ether Exchange (ETFs), said Tuesday that he has launched the Pyth Trust of grays The pyth network.
Pyth provides price foods that help decentralized applications to function efficiently. The Network obtains pricing information from institutional merchants and market manufacturers and offers updates that are criticism for decentralized finance applications (DEFI). Pyth services are particularly crucial in the Solana ecosystem, where 95% of decentralized protocols use network data, said Grayscale.
“The Pyth Network plays one of the most significant papers in the Solana ecosystem,” said Rayhaneh Sharif-Aankary, Chief of Products and Research of Grayscale. “By introducing the Pyth Trust of the gray scale, our goal is to provide investors access to additional high beta opportunities and superiors associated with the continuous growth of Solana.”
The trust is available only for accredited investors and follows the model of other investment trusts for a single gray scale allocation, with only Pyth tokens. Grayscale is known by products such as Bitcoin Trust (GBTC) and Ethereum Trust (ETHE), which became an ETF structure last year.
Read more: Pyth Oracle Network leads to the heavyweights of the industry to the government after air
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