Key Takeaways
- Grayscale Investments introduced two new crypto products investing in SUI and TAO.
- The firm aims to meet growing investor interest in diversified crypto exposure.
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Grayscale Investments, the leading asset manager, has expanded its portfolio with two new funds, the Grayscale Bittensor Trust and the Grayscale Sui Trust, said the company in a Wednesday press release. Bittensor Trust invests in TAO, a token for AI development, while Sui Trust focuses on SUI, a token for a high-performance blockchain.
“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 Rayhaneh Sharif-Askary, Head of Product and Research at Grayscale.
The new trusts operate similarly to Grayscale’s existing single-asset investment trusts. Grayscale also offers trusts tied to various crypto assets like Solana, Stellar, Chainlink, and Litecoin. The firm just launched new funds that invest in Near and Stacks in May.
With these new offerings, Grayscale aims to meet growing investor demand for diversified crypto exposure. The trusts are among the first investment products focused solely on TAO and SUI.
“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,” Sharif-Askary added.
At press time, Grayscale Bittensor Trust shares are trading at $5.15, and Grayscale Sui Trust shares are trading at $8.97. Both trusts are open to subscription by accredited investors and charge a 2% management fee.
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