The digital asset management giant Grayscale has launched a new trust for a mid-cap altcoin that has doubled its value in the past month.
Grayscale’s new Story Trust provides accredited investors with exposure to Story (IP), a layer-1 blockchain network focused on intellectual property.
Story launched in February and aims to provide a scalable intellectual property solution on a blockchain where rights holders can upload IP, set the terms of use and monetize it throughout the protocol’s application ecosystem. The project also brings real-world data to artificial intelligence (AI) systems, including robots, surgical assistants and autonomous vehicles.
Story’s native asset, IP, is trading at $5.95 at time of writing. The 69th-ranked crypto asset by market cap is down more than 2% in the past 24 hours but up more than 8% in the past seven days and more than 100% in the past month.
Rayhaneh Sharif-Askary, Grayscale’s head of product and research, says the asset manager’s new trust reflects Story’s technological potential.
