Grayscale Investments Expands Its Cryptocurrency Offerings with the Introduction of the Grayscale Bittensor Trust and the Grayscale Sui Trust

Grayscale Investments has taken a huge step by introducing two new cryptocurrency investment trusts: the Grayscale Bittensor Trust and the Grayscale Sui Trust.

Grayscale has announced the launch of two new cryptocurrency investment trusts, the Grayscale Bittensor Trust and the Grayscale Sui Trust. The trusts will invest in TAO, the token that powers the Bittensor protocol, and SUI, the token that underpins the Sui protocol, respectively.

The Grayscale Bittensor Trust will invest in TAO, which is used to fuel the development of open-source AI. Grayscale said that the move reflects its belief in Bittensor’s "critical role in the development of decentralized AI."

Both trusts are now accepting daily subscriptions from accredited individuals and institutional investors, the announcement said. They will operate similarly to Grayscale’s existing single-asset investment trusts and are the first such products centered on tokens that support the Bittensor Protocol (TAO) and Sui (SUI).

The trusts will be available to eligible accredited investors, with a minimum investment of $50,000. Further details on the trusts can be found in Grayscale’s press release.

Grayscale’s latest move comes amid a period of turbulence in the cryptocurrency markets. As we recently reported, Ethereum’s recent decline has attracted attention in light of the broader market downturn.

This decline is said to be linked to ongoing outflows from the Grayscale Ethereum ETF, which have impacted the digital currency’s performance. The situation with Ethereum highlights the challenges it faces during this period of market volatility.

Meanwhile, shifting our focus to SUI, we have previously covered the进展of the Sui Bridge in enhancing cross-chain integration and interoperability for the Sui network. The Sui Bridge is set to go live on the Mainnet, offering a robust and versatile solution that aligns with present needs while anticipating future demands.

In another development, the Sui Foundation has integrated AWS Blockchain Node Runners to bolster the Sui network’s infrastructure. This integration marks a pivotal step toward enhancing the network’s capabilities and ensuring it can cater to a growing user base and transaction volumes.