Ring‐opening metathesis polymerization of 4‐phenylcyclopentene is investigated for the first time under various conditions. Thermodynamic analysis reveals a polymerization enthalpy and entropy sufficient for high molar mass and conversions at lower temperatures. In one example, neat polymerization using Hoveyda–Grubbs second generation catalyst at ?15 °C yields 81% conversion to poly(4‐phenylcyclopentene) (P4PCP) with a number average molar mass of 151 kg mol?1 and dispersity of 1.77. Quantitative homogeneous hydrogenation of P4PCP results in a precision ethylene‐styrene copolymer (H2‐P4PCP) with a phenyl branch at every fifth carbon along the backbone. This equates to a perfectly alternating trimethylene‐styrene sequence with 71.2% w/w styrene content that is inaccessible through molecular catalyst copolymerization strategies. Differential scanning calorimetry confirms P4PCP and H2‐P4PCP are amorphous materials with similar glass transition temperatures (Tg) of 17 ± 2 °C. Both materials present well‐defined styrenic analogs for application in specialty materials or composites where lower softening temperatures may be desired.