- Grayscale, a leading crypto asset manager, has launched new investment trusts focused on Bittensor and Sui, expanding its crypto product suite.
- The Grayscale Bittensor Trust invests in Bittensor’s TAO token, while the Grayscale Sui Trust focuses on Sui’s SUI token.
- These trusts are among the first to solely invest in the tokens underpinning the Bittensor Protocol and Sui blockchain.
- Grayscale now manages over 20 crypto investment products, with plans for potential future expansions.
- The company’s recent offerings include a decentralized AI-focused digital asset trust and uplisting its Grayscale Ethereum Trust to an ETF structure.
Grayscale, the world’s largest crypto asset manager, has expanded its portfolio with two new funds, the Grayscale Bittensor Trust and the Grayscale Sui Trust, as announced in a press release on August 7, 2024.
The Grayscale Bittensor Trust will invest in Bittensor’s native TAO token, while the Grayscale Sui Trust will focus exclusively on Sui’s SUI token. Rayhaneh Sharif-Askary, Grayscale’s Head of Product & Research, commented on the launch of these trusts, stating that they “provide investors with familiar products that enable access to tokens at the cutting edge of the crypto ecosystem’s continued evolution.”
These trusts are among the first investment products to solely invest in the tokens underpinning the Bittensor Protocol and Sui blockchain. They function similarly to Grayscale’s existing suite of single-asset investment trusts.
With the addition of these new trusts, Grayscale now manages over 20 crypto investment products. The company has plans for potential future expansions as they explore additional crypto assets.
In addition to these new trusts, Grayscale recently launched a decentralized AI-focused digital asset trust and uplisted its long-running Grayscale Ethereum Trust (ETHE) to an ETF structure. The ETHE uplisting followed regulatory approval by U.S. regulators, allowing redemptions.
According to CoinGlass data, the total value of assets under Grayscale’s crypto trust management is more than $7 billion. The company’s recent moves signal its continued commitment to providing investors with access to a diverse range of crypto assets.
Grayscale’s expansion of its crypto investment suite with the new Bittensor and Sui trusts highlights the growing interest in decentralized finance and the increasing demand for diversified investment options in the crypto space.
© 2024 Cryptopress. For informational purposes only, not offered as advice of any kind.
