Grayscale Launches Investment Funds for TAO and SUI
Popular digital asset manager Grayscale Investments announced Wednesday that it has started offering crypto investment funds for Bittensor’s TAO and Sui Network’s SUI to investors. The trust funds would offer buyers alternative means to gain exposure to the aforementioned assets and allow them to diversify their portfolios.
The asset manager dubbed the funds “the Grayscale Bittensor Trust” and “the Grayscale Sui Trust,” noting that it would be available to eligible individuals and institutionally accredited institutions.
“We are excited to add Bittensor and Sui to our product suite and believe Bittensor is at the center of the growth of decentralized AI, while Sui is redefining the smart contract blockchain. 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,” Rayhaneh Sharif-Askary, the head of product and research at Grayscale, said.
More Trusts in the Bag
The latest additions were the 17th and 18th crypto trust funds Grayscale is offering its customers. Last month, Grayscale launched an AI-focused digital asset fund that gave investors exposure to tokens like NEAR, FIL, and RNDN, including TAO. The manager’s website showed the trust has over $1 million in assets under management (AUM) as of August 5.
Grayscale also added trusts for NEAR and Stacks (STX) on May 23. The asset manager had Bitcoin and Ethereum Trusts before the Securities and Exchange Commission (SEC) approved their conversion to a spot exchange-traded fund (ETF).
TAO is in the 39th position in the crypto ranking by market cap, while SUI is in the 46th position. The former is down 5% in the past 24 hours, while the latter is up 3.7%.
The post Grayscale Launches Investment Funds for TAO and SUI first appeared on Cointab.
