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The new trust gives accredited investors exposure to $IP, the native token of the intellectual property-focused Story blockchain.<\/p>\n
Grayscale<\/a>, one of the largest crypto-focused asset managers, has launched a new investment trust for $IP, the native token of the Story network \u2013 a blockchain focused on programmable intellectual property (IP).<\/p>\n The new Grayscale Story Trust aims to give accredited investors \u2013 typically defined by the U.S. Securities and Exchange Commission (SEC) as individuals who meet certain financial thresholds, like having over $200,000 in annual income \u2013 direct access to the $IP token, which jumped nearly 8% following the announcement to $6.34 before retracing, per CoinGecko. The token has more than doubled over the last 30 days. <\/p>\n Meanwhile, the Story network has processed over 1.8 million IP-related transactions and counts more than 200,000 monthly users to date, according to data from its blockchain explorer<\/a> and a press release viewed by The Defiant.<\/p>\n The launch points to growing interest from institutions in tokenized IP, as artists, brands, and artificial intelligence (AI) platforms look for better ways to manage rights and royalties on-chain. <\/p>\n In fact, recent research shows that the global IP market, which includes real-world data and digital rights, is estimated to be worth over $80 trillion, per the World Intellectual Property Organization\u2019s 2025 Global Innovation Index.<\/p>\n \u201cThe launch of the Grayscale Story Trust reflects growing recognition that intellectual property, in all forms, is becoming one of the most important assets of the AI era,\u201d said SY Lee, CEO and co-founder of the Story Foundation, per the release. \u201cWith $IP now available via a Grayscale Trust, investors can gain exposure to the infrastructure layer that enables programmable licensing and attribution across AI and creative applications.\u201d <\/p>\n The Trust, which is now live, works like Grayscale\u2019s other single-asset funds and holds only the $IP token.<\/p>\n The launch builds on Grayscale\u2019s broader strategy of offering single-asset investment vehicles tied to digital assets. The firm pioneered this approach with its Grayscale Bitcoin Trust (GBTC), which was converted into a spot Bitcoin exchange-traded fund (ETF) last year. It has also launched similar investment products for Ethereum, Solana<\/a>, Chainlink, and other tokens.<\/p>\n As of July 29, GBTC<\/a> holds $21.22 billion in net assets, according to SoSoValue. Meanwhile, Grayscale\u2019s Ethereum Trust (ETHE) currently boasts $4.25 billion in net assets. <\/p>\n The launch comes just weeks after the SEC approved Grayscale\u2019s proposal<\/a> to convert its Digital Large Cap Fund into a spot ETF on July 1. The fund offers diversified exposure to five major digital assets: Bitcoin (BTC), Ether (ETH), Ripple (XRP), Solana (SOL), and Cardano (ADA).<\/p>\n