Grayscale has launched two new crypto investment trusts focused on the Sui blockchain and decentralized AI network Bittensor, according to an August 7 report. rack.
The Grayscale Bittensor Trust will invest in Bittensor’s native TAO token, while the Grayscale Sui Trust will focus solely on Sui’s SUI token.
Rayhaneh Sharif-Askary, Grayscale’s Head of Product & Research, noted that the launch of the trusts will provide investors with trusted products that enable access to tokens at the cutting edge of the ongoing evolution of the crypto ecosystem.
He added:
“We are excited to add Bittensor and Sui to our product suite, and believe Bittensor is central to the growth of decentralized AI, while Sui redefines the smart contract blockchain.”
These new trusts follow Grayscale’s launch of a decentralized AI-focused digital asset trust in July. The fund also offers exposure to Bittensor and other AI projects such as Livepeer Filecoin, NEAR and Render.
Meanwhile, the new trust increases the total number of crypto products the investment firm manages to twenty. These include a digital asset trust such as Solana, Litecoin, Chainlink, ZCash and others.
According to CoinGlass factsthe total value of assets under Grayscale’s crypto trust exceeds $7 billion.
Grayscale ETFs
Grayscale recently transitioned its long-standing Grayscale Ethereum Trust (ETHE) to an ETF structure, after the U.S. Securities and Exchange Commission approved spot Ethereum ETF products last month.
Since its debut, the product has experienced outflows of more than $2 billion, according to analysts anticipate a possible delay soon.
This is also the case according to Farside factsGrayscale Bitcoin Trust (GBTC), which underwent a similar transition in January, has seen outflows of more than $20 billion.
Analysts attribute the significant outflow of these products to their high fees. In response, Grayscale introduced two new offerings: the Bitcoin Mini Trust and the Ethereum Mini Trust to reduce costs for investors.