TLDR
- IP token price surged 12% to $6.41 after Grayscale’s announcement.
Story protocol records over 1.7 million IP transactions.
IP token market cap now stands at around $2 billion.
Grayscale Story Trust offers single-asset exposure to IP token.
Grayscale Investments has launched a new product offering exposure to the IP token, the native digital asset of the Story protocol. The announcement pushed the token’s price up 12% to $6.41 and marked a new expansion of Grayscale’s growing crypto product suite.
Grayscale Story Trust Goes Live for Accredited Investors
The new trust, launched on July 31, gives accredited investors access to the Story network through a regulated investment product. According to Grayscale, the Story Trust is a single-asset trust that holds only the IP token.
Rayhaneh Sharif-Askary, Grayscale’s Head of Product and Research, said the trust targets the infrastructure of the growing intellectual property market. “Grayscale Story Trust gives investors exposure to a protocol shaping the foundational intellectual property layer for the information and AI era,” she said in a statement.
The @Grayscale Story Trust is live.
Accredited investors can now access $IP, the token powering Story's AI-native infrastructure for the $80T+ IP economy.
IP's institutional era starts today. Details ↴ pic.twitter.com/s2TOAOwMah
— Story (@StoryProtocol) July 31, 2025
The Story protocol focuses on programmable intellectual property and aims to streamline licensing, attribution, and monetization. This comes as global IP markets, now worth over $80 trillion, face growing pressure from AI content systems.
IP Token Surges After Trust Launch
Shortly after the launch of the Story Trust, the price of IP jumped by over 12% in intraday trading, reaching highs of $6.41. The token is now trading 125% higher than its value from a month ago and has a current market capitalization of approximately $2 billion.
The token, which launched in February 2025, is backed by PIP Labs and counts a16z crypto, Samsung Next, and Polychain Capital among its top supporters. PIP Labs has raised $140 million to develop Story’s infrastructure and continues to expand its ecosystem with new features and integrations.
IP token’s fully diluted valuation now stands at roughly $6.5 billion. Market analysts attribute the recent price action to the combination of investor optimism and the growing number of real-world IP use cases on the blockchain.
Story Protocol Sees Rising On-Chain Activity
According to Grayscale release, the Story protocol has already logged more than 1.7 million intellectual property transactions. The platform also boasts over 200,000 monthly users, signaling growing interest from creators and organizations.
The protocol allows users to tokenize content and data as NFTs that include programmable licensing terms based on existing intellectual property law. This feature addresses challenges creators face from AI-generated content and platform-driven IP violations.
“Today, adoption of Story is accelerating,” Grayscale said in its announcement. The trust will offer daily subscriptions and seeks to meet rising institutional demand for blockchain-based IP solutions.
A New Asset Class for the AI Era
SY Lee, co-founder and CEO of PIP Labs, said that IP is emerging as a new asset class.
“The launch of Grayscale Story Trust reflects growing recognition that intellectual property, in all forms, has the potential to become one of the most important assets of the AI era,” Lee said.
He added that the trust will help institutional investors gain access to infrastructure powering programmable licensing, attribution, and data monetization across creative and AI sectors.
The Story Trust is Grayscale’s latest in a line of over 30 crypto investment vehicles. As adoption of IP protocols continues, the firm aims to expand investor access to assets underpinning core digital infrastructure.
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