Grayscale launches two new investment products: Bittensor and sui trust
Grayscale Investment has introduced Grayscale Bittensor Trust and Grayscale Sui Trust to its list of crypto investment products.
We are proud to announce the creation of two new single-asset crypto investment funds, available through private placement: Grayscale Bittensor Trust $TAO and Grayscale Sui Trust $SUI.
— Grayscale (@Grayscale) August 7, 2024
Available to eligible accredited investors.
Press release: https://t.co/Xplh81KI9W
1/3 pic.twitter.com/pGcLhcZSdD
According to a press release provided to Whaleinsider News, Grayscale launched the two new crypto investment products on Wednesday. Grayscale Bittensor Trust is exclusively invested in TAO, the protocol's underlying token that uses tokens to encourage the development of open-source artificial intelligence (AI). Grayscale Sui Trust's sole objective is to make investments in SUI, the token that powers the Sui protocol, a Layer 1 smart contract blockchain with high performance intended to support decentralized applications that are globally scalable.
Head of Product and Research at Grayscale Rayhaneh Sharif-Askary said in a statement that the firm, which offers more than 20 crypto investment products, is thrilled to introduce Bittensor and Sui as parts of its product suite. We believe Sui is revolutionizing smart contract blockchain, while Bittensor is at the center of the evolution of decentralized AI.
Sharif-Askary added, "With the introduction of the two new crypto investment products, we are able to offer investors familiar products that facilitate access to tokens at the cutting edge of the continuous growth of the cryptocurrency ecosystem."
According to the post, eligible individual and institutional accredited investors can now subscribe daily to the new trusts. Similar to Grayscale's current line of single-asset investment trusts, the trusts are among the first investment products that are exclusively invested in the tokens that serve as the foundation for Bittensor Protocol (TAO) and the Sui (SUI).
Grayscale introduced two trusts that invest in Stacks (STX) and Near (NEAR) on May 23. Whaleinsider News previously reported that the funds provided daily subscriptions for a diversified cryptocurrency portfolio to accredited institutional and retail investors. NEAR boosts user experience and tackles blockchain scalability problems to enhance decentralized apps (dApps). The company also stated that STX contributes to the introduction of decentralized apps (dApps) and smart contracts to the Bitcoin (BTC) network.
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