Grayscale Unveils Exclusive Bittensor and Sui Trust Products

YEREVAN (CoinChapter.com) — Grayscale Investments, a crypto asset manager, has introduced two new investment trusts: Bittensor and Sui. On August 7, the firm announced that these trusts would focus on TAO and SUI, the native tokens of the Bittensor protocol and Sui blockchain.

The Bittensor protocol uses TAO tokens to incentivize open-source artificial intelligence development. The Sui blockchain is a layer-1 smart contract platform supporting decentralized applications, with SUI as its native token. These trusts aim to provide investors access to these emerging tokens.

Grayscale’s Exclusive Trusts Open to Accredited Investors Only

The new Bittensor and Sui trust products are available for subscription but not to retail traders. According to the firm’s press release, only eligible individuals and institutional accredited investors can access these products.

Rayhaneh Sharif-Askary, Grayscale’s head of product and research, said,

“With the 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.”

New Trusts Offer Indirect Crypto Exposure

Grayscale’s Bittensor and Sui trusts function like the company’s existing single-asset investment trusts. These instruments offer exposure to crypto assets without direct token acquisition. This model is similar to the Grayscale Bitcoin Trust, allowing investors to gain exposure to Bitcoin through a traditional investment vehicle.

Grayscale’s Ethereum Trust Sees Major Outflows Amid ETF Transition

The firm has a history of offering crypto investment vehicles, such as the Grayscale Bitcoin Trust and Ethereum Trust. The Ethereum Trust, recently converted into an exchange-traded fund (ETF), has seen significant activity. On August 1, the fund experienced outflows of about $78 million, pushing its cumulative outflows over $2 billion. Analysts suggest these outflows may subside, potentially benefiting Ether.

Institutional Interest in Crypto Grows with BlackRock and Grayscale’s New Offerings

BlackRock’s spot Ether ETF has accumulated nearly $900 million since its launch. This development highlights the increasing institutional interest in crypto assets, reflecting a broader trend in the investment landscape.

The company’s new Bittensor and Sui trusts add to its product offerings. By focusing on TAO and SUI tokens, Grayscale continues to lead in providing structured, accessible crypto investments to accredited investors.