Grayscale, one of the largest crypto-focused asset managers, has launched a new investment trust for $IP, the native token of the Story network – a blockchain focused on programmable intellectual property (IP).

The new Grayscale Story Trust aims to give accredited investors – 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 – 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.

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