Grayscale has launched two new crypto investment trusts, focusing on the Sui blockchain and the decentralized AI network Bittensor, as announced in a press release on Aug. 7.
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, stated that these new trusts will offer investors access to tokens at the forefront of the crypto ecosystem’s evolution.
“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.”
These new trusts expand Grayscale’s offerings to a total of 20 crypto products, including trusts for digital assets like Solana, Litecoin, Chainlink, ZCash, and others.
The total value of assets under Grayscale’s crypto trust management exceeds $7 billion, according to CoinGlass data.
Grayscale ETFs
Grayscale recently converted its Grayscale Ethereum Trust (ETHE) to an ETF structure following regulatory approval, resulting in significant outflows. Analysts predict a potential slowdown in the near future.
The Grayscale Bitcoin Trust (GBTC) has also experienced substantial outflows after transitioning to a similar structure. High fees are cited as a reason for these outflows.
In response, Grayscale introduced the Bitcoin Mini Trust and the Ethereum Mini Trust to reduce costs for investors.
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