Grayscale Launches Story Protocol Trust, IP Sees Rising Investor Attention

Crypto asset manager Grayscale Investments launched a new trust product called Grayscale Story Trust on Thursday.

This provides investors with exposure to Story Protocol’s native token IP and blockchain-powered intellectual property.

Story protocol became one of the fastest-released products among Grayscale’s single-token trust products.

The network has processed over 1.85 million intellectual property transfers, with over 200,000 monthly active users.

Grayscale Announces Story Protocol Trust

Grayscale took to X on July 31 to announce the launch of new Story Trust for accredited investors. The protocol laid the foundational infrastructure for the global intellectual property economy, reportedly worth as much as $80 trillion.

Rayhaneh Sharif-Askary, head of product & research at Grayscale, said,

“Grayscale Story Trust gives investors exposure to a protocol shaping the foundational intellectual property layer for the information and AI era.”

In the AI era, the Grayscale Story Trust can be considered a sign of the tremendous potential of intellectual property protocol as assets.

Story Protocol Trust is created to cater to the AI sector’s dynamic demands. Additionally, it will also support the creator economy and digital rights management.

Institutional investors trust Grayscale for launching products that have investment potential. They even filed for IPO in the United States as crypto firm capitalize on favorable regulatory environment.

What Is Story Protocol?

Story blockchain network powers programmable intellectual property, making real-world data licensable and distinct type of intellectual property for the artificial intelligence (AI) and robotics.

The protocol brings intellectual property, including music, media, personal likeness, and real-world data like video and speech, on-chain.

It resolves the challenges faced by traditional intellectual property systems. Creators and companies, and AI agents too, can maximize the potential of their intellectual property

Story network can also become important for data-driven systems such as robots, surgical assistants, and autonomous vehicles.

IP Price Surges Over 8%

After Story price saw a more than 8% jump in response to the launch of Grayscale trust, it lost over 4% in the past 24 hours. IP price was trading at $5.88.

Trading volume climbed more than 58% to $120.4 million over the last 24 hours, indicating a rise in interest among traders.

The protocol has a market cap of $1.73 billion and ranked 53 in the top 100 crypto list on CryptoMarketCap.

It is worth noting that the crypto recorded huge gains – over 115% in July. This likely happened amid sentiment of altcoin season and perpetual listings by multiple crypto exchanges.

In the daily timeframe, the price was above the 50-SMA and 100-SMA at the time of writing. Whereas, Relative Strength Index (RSI) rises to 78.88, signaling potential for pullback due to profit booking.

Also, the 20-exponential moving average (EMA) stayed above 50-EMA (red) at the time of writing. It indicates the asset still hold potential for further upside.

Moreover, derivatives market showed massive buying activity, as per CoinGlass data. At the time of writing, the total IP futures open interest jumped 26% to $156.67 million in the last 24 hours.

The 4-Hour IP futures OI on Binance, OKX and Bybit climbed more than 27%,15%, and 27%, respectively.

However, traders must keep an eye on profit booking and trading volumes as the Grayscale announcement could lead some investors to book profits.