Grayscale has introduced two new investment products: the Grayscale Bittensor Trust and the Grayscale Sui Trust. The Bittensor Trust will invest in TAO, the token for the Bittensor Protocol, which incentivizes the development of open-source AI.
The Sui Trust will focus on SUI, the token for the Sui network, a layer-1 blockchain that supports decentralized applications (DApps).
Grayscale Unveils Bittensor and Sui Trusts
Grayscale has introduced two new investment trusts: the Grayscale Bittensor Trust and the Grayscale Sui Trust. These products focus on investing in the Bittensor Protocolâs native token, TAO, and the Sui networkâs native token, SUI, respectively. However, these new products are only available to eligible individuals and institutional accredited investors, not retail traders.
Rayhaneh Sharif-Askary, Grayscaleâs head of product and research, expressed enthusiasm about these additions. She noted, âWith the launch of Grayscale Bittensor Trust and Grayscale Sui Trust, we continue to provide investors with familiar products that enable access to tokens at the cutting edge of the crypto ecosystemâs continued evolution.â
Both new trusts operate similarly to Grayscaleâs existing single-asset investment trusts, such as the Grayscale Bitcoin Trust (GBTC). They offer a way to gain exposure to these crypto assets without directly purchasing the tokens themselves.
Grayscale Ethereum Trust Sees $78M Outflow, Bullish Signs Possible
Grayscale was among the first institutions to provide institutional investors with exposure to Ether through its Grayscale Ethereum Trust, which has now transitioned into an exchange-traded fund (ETF).
On August 1, the fund experienced outflows of approximately $78 million, pushing its total outflows past $2 billion. Analysts suggest that this trend of outflows may eventually slow down, which could act as a bullish catalyst for Ether, currently trading at $2,468.
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