Bitcoin

Grayscale has introduced two new investment products: the Grayscale Bittensor Trust and the Grayscale Sui Trust. The Bittensor Trust will invest in TAO, the token for the Bittensor Protocol, which incentivizes the development of open-source AI.The Sui Trust will focus on SUI, the token for the Sui network, a layer-1 blockchain that supports decentralized applications (DApps).<img src="https://academy-public.coinmarketcap.com/optimized-uploads/78d7b73a2f954232b05ed65679a2a864.png" /><h3 id="grayscale-unveils-bittensor-and-sui-trusts">Grayscale Unveils Bittensor and Sui Trusts</h3>Grayscale has introduced two new investment trusts: the Grayscale <a href="https://cryptosheadlines.com/sui-bittensor-and-celestia-lead-with-increasing-bitcoin-price-ratios/" rel="noopener noreferrer nofollow">Bittensor Trust and the Grayscale Sui</a> Trust. These products focus on investing in the Bittensor Protocol’s native token, TAO, and the Sui <a href="https://cryptosheadlines.com/kucoin-adds-manta-networks-native-token-to-spot-trading/" rel="noopener noreferrer nofollow">network’s native token</a>, SUI, respectively. However, these new products are only available to eligible individuals and <a href="https://cryptosheadlines.com/eys-paul-brody-institutional-investors-seeking-bitcoin-in-high-demand/" rel="noopener noreferrer nofollow">institutional accredited investors</a>, not retail traders.Rayhaneh Sharif-Askary, Grayscale’s head of product and research, expressed enthusiasm about these additions. She noted, “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.”Both new trusts operate similarly to Grayscale’s existing single-asset investment trusts, such as the <a href="https://cryptosheadlines.com/grayscale-bitcoin-trust-surges-towards-2023-highs-on-blackrock-etf-filing-buyers-rally/" rel="noopener noreferrer nofollow">Grayscale Bitcoin Trust</a> (GBTC). They offer a way to gain exposure to these crypto assets without directly purchasing the tokens themselves.<h3 id="grayscale-ethereum-trust-sees-78m-outflow-bullish-signs-possible">Grayscale Ethereum Trust Sees $78M Outflow, Bullish Signs Possible</h3>Grayscale was among the first institutions to provide institutional investors with exposure to Ether through its <a href="https://cryptosheadlines.com/grayscale-submits-application-to-sec-to-transform-its-ethereum-trust-into-a-spot-ethereum-etf/" rel="noopener noreferrer nofollow">Grayscale Ethereum Trust</a>, which has now transitioned into an exchange-traded fund (ETF).On August 1, the fund experienced outflows of approximately $78 million, pushing its total outflows past $2 billion. Analysts suggest that this trend of outflows may eventually slow down, which could act as a bullish catalyst for Ether, currently trading at $2,468.<img src="https://academy-public.coinmarketcap.com/optimized-uploads/78d7b73a2f954232b05ed65679a2a864.png" /><img src="https://academy-public.coinmarketcap.com/optimized-uploads/cb6e7f115f624ed08372da646e0f5bb8.png" />Important: Please note that this article is only meant to provide information and should not be taken as legal, tax, investment, financial, or any other type of advice.Join Cryptos Headlines <a href="https://linktr.ee/cryptosheadlines.com" rel="noopener noreferrer nofollow">Community</a>Follow Cryptos Headlines on <a href="https://news.google.com/publications/CAAqBwgKMLz3-wowvuzoAg" rel="noopener noreferrer nofollow">Google News</a>Join our official TG Channel: <a href="https://t.me/CryptosHeadlines" rel="noopener noreferrer nofollow">https://t.me/CryptosHeadlines</a>

Grayscale Launches New Trust Products for Bittensor and Sui

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