Grayscale adds Sui and Bittensor trusts to its crypto product suite

Grayscale has introduced 2 caller crypto concern trusts, focusing connected the Sui blockchain and the decentralized AI web Bittensor, according to an Aug. 7 statement.

The Grayscale Bittensor Trust volition put successful Bittensor’s autochthonal TAO token, portion the Grayscale Sui Trust volition absorption exclusively connected Sui’s SUI token.

Rayhaneh Sharif-Askary, Grayscale’s Head of Product & Research, commented that the motorboat of the trusts volition supply investors with acquainted products that alteration entree to tokens astatine the cutting borderline of the crypto ecosystem’s continued evolution.

He added:

“We are excited to adhd Bittensor and Sui to our merchandise suite, and judge Bittensor is astatine the halfway of the maturation of decentralized AI, portion Sui is redefining the astute declaration blockchain.”

These caller trusts travel Grayscale’s motorboat of a decentralized AI-focused integer plus spot successful July. The money besides provides vulnerability to Bittensor and different AI projects similar Livepeer Filecoin, NEAR, and Render.

Meanwhile, the caller spot increases the full fig of crypto products the concern steadfast manages to 20. These see a spot for integer assets similar Solana, Litecoin, Chainlink, ZCash, and others.

According to CoinGlass data, the full worth of assets nether Grayscale’s crypto spot absorption is much than $7 billion.

Grayscale ETFs

Grayscale precocious transitioned its long-standing Grayscale Ethereum Trust (ETHE) to an ETF operation pursuing the US Securities and Exchange Commission’s support of spot Ethereum ETF products past month.

Since its debut, the merchandise has experienced implicit $2 cardinal successful outflows, and analysts anticipate a imaginable slowdown soon.

Similarly, according to Farside data, Grayscale Bitcoin Trust (GBTC), which underwent a akin modulation successful January, has seen an outflow of much than $20 billion.

Analysts property the important outflows of these products to their precocious fees. In response, Grayscale introduced 2 caller offerings—the Bitcoin Mini Trust and the Ethereum Mini Trust—designed to reduce costs for investors.

The station Grayscale adds Sui and Bittensor trusts to its crypto merchandise suite appeared archetypal connected CryptoSlate.