GBTC Grayscale Bitcoin Trust ETF

Grayscale Investments®, a leading crypto asset management firm, offering more than 30 crypto investment products, today announced the creation and launch of Grayscale® Pyth Trust (the “Trust”).

Grayscale® Pyth Trust offers exposure to PYTH, the governance token powering the Pyth network. By providing accurate and real-time data feeds, Pyth plays a crucial role in the Solana ecosystem and is poised to thrive alongside Solana's growth. An impressive 95%* of decentralized applications (dApps) on Solana rely on Pyth’s price feeds, highlighting its significance and strong market position.

“The Pyth network plays one of the most significant roles in the Solana ecosystem,” said Grayscale’s Head of Product & Research, Rayhaneh Sharif-Askary. “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.”

The Trust is now open for daily subscription by eligible individual and institutional accredited investors.** The Trust functions like Grayscale’s other single-asset investment trusts, and is solely invested in the token underpinning the Pyth protocol.

This press release is not an offer to sell or the solicitation of an offer to buy any security in any jurisdiction where such an offer or solicitation would be illegal, nor shall there be any sale of any security in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of that jurisdiction.

*https://kpi.pyth.network/

**Grayscale’s private placements are only available to Accredited Investors as defined in Rule 501(a) of Regulation D under the Securities Act of 1933, as amended. Most individuals are not Accredited Investors. For additional information on Accredited Investors and their qualifications please consult https://www.sec.gov/newsroom/speeches-statements/spch121714laa

Grayscale intends to attempt to have shares of new products quoted on a secondary market. However, there is no guarantee that Grayscale will be successful. Although the shares of certain products have been approved for trading on a secondary market, investors in the new products should not assume that the shares will ever obtain such an approval due to a variety of factors, including questions regulators, such as the SEC, FINRA, or other regulatory bodies may have regarding such products. As a result, shareholders of such products should be prepared to bear the risk of investment in the shares indefinitely. To date, certain products have not met their investment objective, and the shares of such products quoted on OTC Markets have not reflected the value of the digital assets held by such products, less such products’ expenses and other liabilities, but have instead traded at a premium over such value, which at times has been substantial. There have also been instances where the shares of certain products have traded at a discount.

Private placement securities are speculative, illiquid, and entail a high level of risk, including the risk that an investor could lose their entire investment. The Pyth protocol was relatively recently conceived and the Pyth protocol and its particular underlying technological mechanisms may not function as intended, which could have an adverse impact on the value of PYTH and an investment in the Shares.

Extreme volatility of trading prices that many digital assets have experienced in recent periods and may continue to experience, could have a material adverse effect on the value of the Trust and the shares could lose all or substantially all of their value.

About Grayscale Investments®

Grayscale enables investors to access the digital economy through a family of future-forward investment products. Founded in 2013, Grayscale has a decade-long track record and deep expertise as an asset management firm focused on crypto investing. Investors, advisors, and allocators turn to Grayscale for single asset, diversified, and thematic exposure. For more information, please follow @Grayscale or visit grayscale.com.

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