Grayscale adds Sui and Bittensor trusts to its crypto product suite News ▸ Grayscale ▸ Bitcoin ▸ Investments
Grayscale adds Sui and Bittensor trusts to its crypto product suite
The new Grayscale trusts will provide investors with exposure to AI and blockchain innovations.
2 min read
Updated: Aug. 7, 2024 at 4:06 pm UTC
Cover art/illustration via CryptoSlate. Image includes combined content which may include AI-generated content.
Grayscale has introduced two new crypto investment trusts, focusing on the Sui blockchain and the decentralized AI network Bittensor, according to an Aug. 7 statement.
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, commented that the launch of the trusts will provide investors with familiar products that enable access to tokens at the cutting edge of the crypto ecosystem’s continued evolution.
He added:
“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 follow Grayscale’s launch of a decentralized AI-focused digital asset trust in July. The fund also provides exposure to Bittensor and other AI projects like Livepeer Filecoin, NEAR, and Render.
Meanwhile, the new trust increases the total number of crypto products the investment firm manages to 20. These include a trust for digital assets like Solana, Litecoin, Chainlink, ZCash, and others.
According to CoinGlass data, the total value of assets under Grayscale’s crypto trust management is more than $7 billion.
Grayscale ETFs
Grayscale recently transitioned its long-standing Grayscale Ethereum Trust (ETHE) to an ETF structure following the US Securities and Exchange Commission’s approval of spot Ethereum ETF products last month.
Since its debut, the product has experienced over $2 billion in outflows, and analysts anticipate a potential slowdown soon.
Similarly, according to Farside data, Grayscale Bitcoin Trust (GBTC), which underwent a similar transition in January, has seen an outflow of more than $20 billion.
Analysts attribute the significant outflows of these products to their high fees. In response, Grayscale introduced two new offerings—the Bitcoin Mini Trust and the Ethereum Mini Trust—designed to reduce costs for investors.
Mentioned in this article
Bittensor 
Filecoin 
Ethereum 
Solana 
Bitcoin 
Grayscale Investments 
Grayscale Bitcoin Trust Grayscale Ethereum Mini Trust Grayscale Ethereum Trust Author 
Oluwapelumi Adejumo
Oluwapelumi values Bitcoin's potential. He imparts insights on a range of topics like DeFi, hacks, mining and culture, underlining transformative power.
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In this article
Bittensor is an open-source protocol that powers a decentralized, blockchain-based machine learning network.
Filecoin
$4.50722
Filecoin is a peer-to-peer network that stores files on the internet, with built-in economic incentives to ensure files are stored reliably over time..
Ethereum
$3,142.10
Ethereum is a decentralized, open-source blockchain platform that enables the creation of smart contracts and decentralized applications (DApps).
Solana
$242.131
Solana is a high-performance blockchain platform that utilizes a unique consensus algorithm called “Proof of History” to achieve fast transaction speeds and low fees.
Bitcoin
$96,875.06
Bitcoin, a decentralized currency that defies the sway of central banks or administrators, transacts electronically, circumventing intermediaries via a peer-to-peer network.
Grayscale Investments
Established in 2013 by Digital Currency Group, Grayscale Investments is a trusted authority on digital currency investing and cryptocurrency asset management.
The Grayscale Bitcoin Trust (GBTC) is a digital currency investment product that provides investors with access to Bitcoin through traditional investment channels.
The Grayscale Ethereum Mini Trust (Ticker: ETH) is a pioneering investment vehicle designed to provide investors with exposure to Ethereum (ETH) through a regulated security format.
The Grayscale Ethereum Trust (ETHE) by Grayscale is an investment vehicle designed to offer investors exposure to Ethereum, one of the leading cryptocurrencies by market capitalization.