Grayscale Launches SUI and TAO Crypto Trusts

Grayscale Investments has announced the launch of two new crypto investment trusts, offering exposure to Bittensor (TAO) and Sui (SUI). The new funds, Grayscale Bittensor Trust and Grayscale Sui Trust, will invest in the native tokens of these blockchain protocols. Grayscale, known for its Bitcoin and Ethereum exchange-traded funds on U.S. exchanges, disclosed these additions in a press release on August 7.

“We are excited to add Bittensor and Sui to our product suite,” stated Rayhaneh Sharif-Askary, Head of Product & Research at Grayscale. “We believe Bittensor is at the center of the growth of decentralized AI, while Sui is redefining the smart contract blockchain.”

Bittensor is a protocol that powers a decentralized ecosystem and marketplace for artificial intelligence, while Sui is a layer-1 blockchain designed for digital asset ownership.

Grayscale’s new trusts expand its range of crypto investment products, which already include trusts for Solana, Bitcoin Cash, Chainlink, Filecoin, Litecoin, and Zcash. These products provide investors with exposure to crypto assets without the challenges of direct ownership and custody.

The Grayscale Bittensor Trust and Grayscale Sui Trust are available exclusively through private placement, catering to accredited institutional investors. This structure allows investors to gain exposure to cutting-edge tokens within the crypto ecosystem.

“With 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 forefront of the crypto ecosystem’s evolution,” added Sharif-Askary.

Following the announcement, the price of Sui surged to $0.06, whereas TAO struggled due to the recent crypto market sell-off.

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