Render

Bittensor

Filecoin

Grayscale Bitcoin Trust

Grayscale Investments has&nbsp;<a style="text-decoration:none" href="https://www.globenewswire.com/news-release/2024/08/07/2925970/0/en/Grayscale-Investments-Launches-Two-New-Product-Offerings-Grayscale-Bittensor-Trust-and-Grayscale-Sui-Trust.html" rel="noopener noreferrer nofollow">introduced</a> two new crypto investment trusts, adding to its growing portfolio. The newly launched funds, the Grayscale Bittensor Trust and the Grayscale Sui Trust, offer exposure to the native tokens of Bittensor and Sui blockchain protocols.
Announced on August 7, these single-asset funds are designed to provide accredited investors with a streamlined way to invest in these specific digital assets.
<h2 dir="ltr" id="span-span-new-products-for-a-diverse-portfolio-span-span">New Products for a Diverse Portfolio</h2>
Grayscale's new trusts function similarly to its existing single-asset investment products. The firm has a reputation for creating financial instruments that allow exposure to crypto assets without the need for direct acquisition.&nbsp;
&nbsp;
These new products follow the recent launch of a decentralized AI-focused digital asset trust, which includes exposure to multiple tokens like Near (NEAR), Render (RNDR), and Filecoin (FIL). As of August 5, this AI-focused trust had nearly $1 million in assets under management.
<h2 dir="ltr" id="span-span-bittensor-and-sui-a-closer-look-span-span">Bittensor and Sui: A Closer Look</h2>
The Grayscale Bittensor Trust and Grayscale Sui Trust are significant because they are among the first investment products to focus exclusively on the Bittensor and Sui protocols.&nbsp;
&nbsp;
Bittensor is a decentralized network designed for creating and distributing machine learning models. Sui, on the other hand, is a blockchain protocol known for its scalability and efficiency.
&nbsp;
These new trusts provide an opportunity for investors to gain exposure to these innovative blockchain projects through a familiar investment vehicle. This approach aligns with Grayscale's strategy of offering specialized products that cater to the diverse interests of crypto investors.
<h2 dir="ltr" id="span-span-grayscale-s-market-position-span-span">Grayscale’s Market Position</h2>
Grayscale is well-known in the crypto investment space for its popular products like the Grayscale Bitcoin Trust (GBTC) and the Grayscale Ethereum Trust (ETHE). Earlier this year, Grayscale converted its long-running Ethereum Trust into an exchange-traded fund (ETF) structure, following regulatory approval in the U.S.
&nbsp;
However, on&nbsp;<a style="text-decoration:none" href="https://sosovalue.com/assets/etf/us-eth-spot" rel="noopener noreferrer nofollow">Aug. 6</a>, Grayscale’s GBTC saw outflows of about $32.18 million and its ETHE saw $39.73 million in outflows. GBTC has a cumulative net outflows of $19.16 billion while ETHE has a net outflows of $2.20 billion.

Grayscale Expands Crypto Offerings with Bittensor and Sui

Table of Contents

BSCN

Other articles published on Aug 16, 2024

Bitcoin Bulls Rejoice: SEC Approves Pathbreaking Leveraged MicroStrategy ETF, Is BTC Ready to For...

US reporter busted for creating fake quotes and stories using AI

Crypto: Memecoins in Turmoil – Will Shiba Inu Survive?

Floki Becomes Official Partner of Nottingham Forest for Premier League 2024/2025 Season

Top Analysts Predict a 1000x Rally for These AI-Powered Altcoins

Coinbase Seeks Approval to Enter Turkey

Join our free newsletter for daily crypto updates!