Grayscale, a well-known investment firm, has recently expanded its crypto product suite by introducing two new trusts focused on the Sui blockchain and the decentralized AI network Bittensor. These new trusts aim to provide investors with exposure to innovative AI and blockchain technologies.
The Grayscale Bittensor Trust will invest in Bittensor’s native TAO token, while the Grayscale Sui Trust will specifically focus on Sui’s SUI token. Rayhaneh Sharif-Askary, Grayscale’s Head of Product & Research, expressed excitement about the launch of these trusts, stating that they offer investors access to tokens at the forefront of the evolving crypto ecosystem.
These new additions bring the total number of crypto products managed by Grayscale to 20, including trusts for digital assets like Solana, Litecoin, Chainlink, and ZCash. The total value of assets under Grayscale’s crypto trust management currently exceeds $7 billion, according to CoinGlass data.
In addition to the recent introduction of the Sui and Bittensor trusts, Grayscale made headlines by transitioning its Grayscale Ethereum Trust (ETHE) to an ETF structure following regulatory approval last month. This move has resulted in over $2 billion in outflows from the product, with analysts predicting a potential slowdown in the near future.
Similarly, the Grayscale Bitcoin Trust (GBTC) also experienced significant outflows totaling more than $20 billion since its transition to an ETF earlier this year. Analysts attribute these outflows to the high fees associated with these products. In response, Grayscale introduced the Bitcoin Mini Trust and the Ethereum Mini Trust, which are designed to reduce costs for investors.
Overall, Grayscale’s expansion of its crypto product suite with the introduction of the Sui and Bittensor trusts reflects the firm’s commitment to providing investors with access to cutting-edge technologies in the crypto space. As the crypto market continues to evolve, Grayscale remains at the forefront of offering innovative investment opportunities for its clients.