Grayscale Investments Rolls Out New Crypto Trusts for Bittensor (TAO) and Sui Crypto (SUI)

Unveiled on August 7, these new options give accredited investors a crack at cutting-edge tokens before they are released as proper exchange-traded funds.

Accredited investors can now get their hands on two new crypto trusts from Grayscale, offering exposure to Bittensor (TAO) and Sui (SUI) crypto.

Unveiled on August 7, these trusts aim to provide a path to cutting-edge tokens ahead of their release as full-fledged exchange-traded funds.

“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 cutting edge of the crypto ecosystem’s continued evolution,” said Grayscale head of product and research Rayhaneh Sharif-Askary.

Unpacking Grayscale's Focus on Bittensor and SUI Crypto

The Grayscale Bittensor Trust will zoom in on Sui Crypto and TAO, which serves as Bittensor’s powerful token.

The platform utilizes tokens to spur contributions to open-source AI, merging the worlds of AI and blockchain. Ultimately, Bittensor aims to incentivize developers and foster the growth of decentralized AI.

In contrast, the Sui Trust will concentrate on the SUI token. Sui is a high-performance Layer 1 blockchain designed to facilitate scalable DApps across the globe.

It's crucial to note that these trusts are not accessible to retail traders.

According to Grayscale's press release, both the Bittensor and Sui trusts are only available to eligible individuals and institutional accredited investors.

“We are excited to add Bittensor and Sui to our product suite, and believe Bittensor is at the center of the growth of decentralized AI, while Sui is redefining the smart contract blockchain,” said Grayscale head of product and research Rayhaneh Sharif-Askary in a statement.

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Grayscale: A Market Leviathan in Perspective

Similar to their Bitcoin trust (GBTC), Grayscale's new Bittensor and Sui trusts allow large-scale investors to gain exposure to crypto assets without directly acquiring the tokens.

This approach enables investors to tap into emerging technology while avoiding some operational complexities and regulatory hurdles.

Meanwhile, Grayscale's Ethereum Trust has witnessed substantial outflows since its launch in July, with outflows reaching over $2 billion by early August. However, this exodus may pave the way for a bullish ETH rebound as the markets seek equilibrium.

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