Grayscale launches crypto investment trusts for SUI and TAO

Grayscale Investments has launched two new crypto investment funds offering investment in Bittensor and Sui.

The funds are Grayscale Bittensor (TAO) Trust and Grayscale Sui (SUI) Trust, and will invest in native tokens of the two blockchain protocols. The crypto asset manager, whose spot Bitcoin (BTC) and Ethereum (ETH) exchange-traded funds currently trade on U.S. exchanges, announced the two crypto products in a press release on Aug. 7.

“We are excited to add Bittensor and Sui to our product suite and believe Bittensor is at the core of the growth of decentralized AI while Sui is redefining the smart contract blockchain,” said Rayhaneh Sharif-Askary, Head of Product and Research at Grayscale.

Bittensor is a protocol that provides a decentralized ecosystem and marketplace for artificial intelligence. Meanwhile, Sui is a layer-1 blockchain for digital asset ownership.

Other Grayscale crypto trusts

Grayscale offers access to a wide range of crypto investment products that give investors the access they need to crypto assets without the hassle of purchasing or storing them.

Sui and Bittensor join the asset manager’s single-asset product suite, which is similar to trusts that currently offer investment exposure to Solana, Bitcoin Cash, Chainlink, Filecoin, Litecoin and Zcash.

Grayscale’s TAO and SUI foundations are for accredited investors

According to the announcement on August 7, both the Sui and Bittensor trusts are private placement only, meaning the investments are open to accredited institutional investors who can gain exposure to crypto investments offered through familiar structures.

“With the launch of Grayscale Bittensor Trust and Grayscale Sui Trust, we continue to offer familiar products that give investors access to tokens that are at the forefront of the continued evolution of the crypto ecosystem,” Sharif-Askary added.

Sui price rose following the news, reaching highs of $0.06, but TAO continued to struggle after falling following the recent crypto sell-off.