Cryptocurrency asset management firm Grayscale announced the addition of Bittensor (TAO) and Sui Network (SUI) to its range of investment products, marking the launch of Grayscale Bittensor Trust and Grayscale Sui Trust. These trusts are single-asset funds that exclusively hold their respective cryptocurrencies and are available to qualified individual and institutional accredited investors.
The Grayscale Bittensor Trust exclusively invests in TAO, the token that supports the Bittensor protocol, which uses tokens to promote the development of open-source AI. As of the latest data, the Net Asset Value (NAV) per share is $5.15, with a 1-day NAV per share change of 17.58%. The current assets under management (AUM) for this trust are approximately $1,216,735.27.
Bittensor is a digital asset generated and transferred through the peer-to-peer Bittensor Network, a decentralized system of computers that functions using cryptographic protocols. This network enables users to exchange tokens of value, referred to as TAO, which are recorded on the blockchain.
Meanwhile, Grayscale Sui Trust exclusively invests in SUI, the token that supports the Sui protocol, a Layer 1 blockchain designed to facilitate scalable decentralized applications (dApps). As of the latest data, the NAV per share is $8.97, with a 1-day NAV per share change of 12.69%. The trust currently has AUM totaling $219,764.90.
SUI represents a digital asset generated and transferred via the peer-to-peer SUI Network, a decentralized system of computers that utilizes cryptographic protocols. It facilitates the exchange of SUI tokens, recorded on the blockchain.
Both products allow investors to gain exposure to the project’s digital assets in the form of a security, circumventing the direct purchases, storage, as well as safeguarding of the assets. Shares are designed to track the market price of the asset minus any associated fees and expenses.
We are proud to announce the creation of two new single-asset crypto investment funds, available through private placement: Grayscale Bittensor Trust $TAO and Grayscale Sui Trust $SUI.
Available to eligible accredited investors.
Press release: https://t.co/Xplh81KI9W
1/3 pic.twitter.com/pGcLhcZSdD
— Grayscale (@Grayscale) August 7, 2024
Grayscale Offers Trusts For Near, Stacks, Solana Among Other Crypto Assets
It offers investors access to the digital economy via a variety of innovative investment products.
On May 23, it introduced two new trusts focused on Near and Stacks. These trusts provide accredited institutional and retail investors with the opportunity to access daily subscriptions and a diversified cryptocurrency portfolio. In addition, Grayscale offers trusts for other cryptocurrencies, encompassing Solana, Litecoin, Stellar, Zcash, Chainlink, and Decentraland, among others.
Recently, Grayscale launched the Grayscale Decentralized AI Fund, specifically designed for qualified investors.
The post Grayscale Unveils Two New Investment Products: Bittensor Trust And Sui Trust appeared first on Metaverse Post.
