2024

Bittensor

Today, Grayscale Investments, renowned as the preeminent crypto asset manager globally, unveiled two novel investment trusts: Grayscale Bittensor Trust and Grayscale Sui Trust. These trusts are exclusively focused on investing in the TAO and SUI tokens, integral to the Bittensor and Sui protocols, respectively.
The Grayscale Bittensor Trust is set to funnel investments into TAO, the cryptocurrency essential to the Bittensor protocol, which fosters the growth of decentralized AI via an incentivized open-source ecosystem. These tokens play pivotal roles in the Bittensor and Sui protocols, which are set to revolutionize decentralized applications and AI development through their respective platforms.
According to Rayhaneh Sharif-Askary, Grayscale’s Head of Product &amp; Research, the inclusion of these two trusts marks a significant step towards embracing cutting-edge technologies in the crypto space.&nbsp;
“We are excited to introduce Bittensor and Sui into our array of investment products. Bittensor represents a core component in the expansion of decentralized AI, whereas Sui is reshaping how smart contracts operate,” Sharif-Askary stated.
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 We are proud to announce the creation of two new single-asset crypto investment funds, available through private placement: Grayscale Bittensor Trust <a href="https://twitter.com/search?q=%24TAO&amp;src=ctag&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">$TAO</a> and Grayscale Sui Trust <a href="https://twitter.com/search?q=%24SUI&amp;src=ctag&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">$SUI</a>. Available to eligible accredited investors. Press release: <a href="https://t.co/Xplh81KI9W" target="_blank" rel="noopener noreferrer nofollow">https://t.co/Xplh81KI9W</a> 1/3 <a href="https://t.co/pGcLhcZSdD" target="_blank" rel="noopener noreferrer nofollow">pic.twitter.com/pGcLhcZSdD</a>— Grayscale (@Grayscale) <a href="https://twitter.com/Grayscale/status/1821170731478356476?ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">August 7, 2024</a>
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The new trusts are now accepting daily subscriptions from qualified individual and institutional investors only, and retail traders will have to wait. These products operate similarly to Grayscale’s existing single-asset investment trusts, positioning them as some of the first to back the tokens essential to both the Bittensor and Sui platforms.&nbsp;
Grayscale also noted its intent to register these shares on a secondary market, although approval is not guaranteed and remains subject to regulatory review.
Potential investors should be aware that these products, while innovative, carry inherent risks due to the volatility of the crypto market and regulatory uncertainties. Past products have not always met their investment objectives, and shares have sometimes traded at significant premiums or discounts relative to the underlying digital assets.
As Grayscale continues to expand its offerings, the launch of the Bittensor and Sui Trusts provides investors with new avenues to explore within the evolving crypto ecosystem, emphasizing the company’s commitment to innovation and access in the digital asset space.
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 Also Read: <a href="https://www.cryptotimes.io/2024/07/17/grayscale-launches-decentralized-ai-fund-for-crypto-investments/" target="_blank" rel="noopener noreferrer nofollow">Grayscale Launches Decentralized AI Fund for Crypto Investments</a>
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Grayscale Introduces Bittensor and Sui Trusts for Crypto Investment

The Crypto Times

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