Grayscale Bittensor Trust and Grayscale Sui Trust will focus solely on providing price exposure to TAO and SUI tokens.
TAO and SUI could experience rallies following the launch of the new Trust funds.
Grayscale announced on Wednesday the establishment of two new crypto Trust funds for Bittensor (TAO) and Sui (SUI) tokens. The move adds to the firm’s growing list of decentralized AI funds.
Crypto asset manager Grayscale introduced two new crypto investment funds for decentralized AI token TAO and Layer-1 token SUI, namely the Grayscale Bittensor Trust and the Grayscale Sui Trust.
The new funds are single-asset funds tailored solely to provide investors with exposure to the potential price growth from the development of Bittensor and Sui protocols. The firm also indicated that the products are now available for daily subscription to eligible investors, whether as individuals or institutions.
The launch of these crypto funds signifies Grayscale’s ongoing efforts to expand its decentralized investment offerings as it continues to provide investors with crypto exposure.
“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’s Head of Product & Research, Rayhaneh Sharif-Askary.
The launch of the new investment products could significantly impact the prices of TAO and SUI tokens. Following the announcement, SUI is up 3.3%, while TAO is down 3.1%, stretching its weekly loss to 18%.
Grayscale had previously launched Trust funds for other AI-based crypto tokens, including NEAR, RNDR and FIL, allowing investors to gain exposure to their price performance.
Share:
Cryptos feed
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.
If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.
The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.
