A Young Korean Breaks into the US $50 Trillion Institutional Investment Market… "Listed Alongside Bitcoin"

'Story (IP)' Coin by 30-something Korean Founder Lee Seung-yoon

Enters Investment Trust Lineup of Grayscale, Largest US Asset Manager

US institutional investors are eyeing… $100 million traded daily in Japan

First 'US Coin Financial Product' Achievement in Korean Financial Market History

A virtual asset (cryptocurrency) 'Story (Story, IP)' created by a young Korean in his 30s has achieved a milestone by being listed for the first time among US institutional investor products in Korean financial market history.

Grayscale, the largest US virtual asset manager operating virtual asset products worth approximately ₩50 trillion, announced on the 31st (local time) that it would launch an investment trust (Trust) product lineup for the virtual asset Story (IP) led by Lee Seung-yoon (34), CEO of Story.

Grayscale, one of the largest investment management companies in the US crypto market, manages about $35 billion (around ₩49 trillion) in assets. Grayscale's investment trust products allow US-certified institutions and qualified investors to access single coin assets. These trusts are used somewhat like crypto exchange-traded funds (ETFs) for institutional investors.

Grayscale's investment trusts are known for launching products only for a select few large and stable coins such as Bitcoin (BTC) and Ethereum (ETH). To date, only 25 coins worldwide have been launched as Grayscale trust products.

With the inclusion in Grayscale's trust lineup, the IP token has made headlines as the first Korean virtual asset to enter the US institutional investor market.

Notably, Story has drawn attention as an exceptional case, launching an institutional investor product just five months after its token issuance. Until now, even widely recognized major altcoins would have to wait at least 3–4 years after issuance for Grayscale to launch a trust product for them.

Observers attribute Story's record-fast entry into the US institutional investor market to its overwhelming real-world use cases and vision compared to other virtual assets.

'Story' Captures US Institutional Attention… Over $100 Million Traded Daily

Founded by Lee Seung-yoon in 2022, Story gained attention from the start after a16z, the largest US venture fund, led three consecutive investment rounds totaling $140 million (about ₩195.9 billion), recognizing an initial valuation of about ₩3 trillion.

Story uses blockchain technology to ensure creators’ IP ownership and supports effective management and utilization. It records all types of IP on the blockchain, from original content and ideas to derivative works, clarifying ownership and establishing a fair compensation system.

Although it has only been about five months since its launch, Story is already partnering with renowned global partners to innovate models for IP-based monetization.

Music IPs from top domestic and international artists—including BTS, Justin Bieber, BLACKPINK, aespa, and Maroon 5—are already being traded on the Story blockchain. Story is also collaborating with global leaders such as Stability AI, which developed the Stable Diffusion model essential for AI training, AI design platform ABLO, casual shoe brand Crocs, and French luxury house Balmain to maximize the innovation of IP in AI. In Korea, it has formed a partnership with OGQ, the operator of ‘Naver OGQ Market’, the country’s largest IP trading platform with 17 million users.

To date, over 1.7 million IP-related transactions have occurred on the Story blockchain, with more than 200,000 monthly active users (MAU) reportedly using Story’s products.

On the 31st (local time), Grayscale explained, "With the explosive growth of AI and the creator economy, the demand for infrastructure to define and enforce digital rights is skyrocketing," as the reason behind launching an institutional IP investment trust product. According to crypto stats platform CoinMarketCap, Story saw over $130 million (about ₩181.9 billion) in trading volume that day, proving its market buzz.

"Targeting the $80 Trillion Global IP Market"

The current global IP market is valued at about $80 trillion (about ₩10 quintillion), and annual cross-border IP royalty payments alone exceed $1 trillion (about ₩1,457 trillion). Despite its massive size, IP trading has long been slow and inefficient due to complex legal procedures and contracts necessitated by differing national regulations and laws.

Story aims to streamline these previously cumbersome and costly centralized procedures for IP registration, usage, and trading via blockchain. It is committed to helping creators—corporate and individual—register and monetize their IP globally, regardless of nationality.

Ultimately, Story seeks to connect the $80 trillion (about ₩10 quintillion) IP asset class to the blockchain through its infrastructure, enabling IP holders—humans and even AI agents—to generate revenue from their IP.

Lee Seung-yoon, CEO of Story, stated, "The launch of Story’s product in Grayscale’s lineup is official recognition of Story’s technology and vision by the global financial market. As global asset institutions gain more access to Story, it will mark a turning point for IP to become a new asset class across the AI and creator ecosystem."