2024

Bittensor

Coin

<p><strong>Grayscale Investments</strong>&nbsp;has extended its product line by introducing two new cryptocurrency investment funds, the Grayscale Bittensor Trust and Grayscale Sui Trust.</p>
<p>This expansion is to satisfy the increasing demand from investors for Crypto exposure with lower risk. Products like Bitcoin ETFs have become largely popular among investors.</p>
<h2 class="wp-block-heading" id="h-grayscale-going-gaga-over-crypto"><strong>Grayscale Going Gaga Over Crypto</strong></h2>
<p>The Bittensor Trust will allocate all the capital to TAO, which is the native token of Bittensor protocol and is working to push forward Open Source Artificial Intelligence. The Sui Trust will be focused on SUI, which is a token of the Sui protocol, it is a Layer-1 blockchain designed for scalable dApps.</p>
<p>According to Rayhaneh Sharif-Askary, the Head of Product and Research at&nbsp;<a href="https://www.thecoinrepublic.com/2024/07/06/grayscale-ethereum-trust-shifts-to-premium-before-etf-launch/" rel="noopener noreferrer nofollow">Grayscale</a>, these protocols hold great potential to transform their respective industries. Sharif added, “Bittensor is at the center of the growth of decentralized AI, while Sui is redefining the smart contract blockchain.”</p>
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   <p lang="en" dir="ltr">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" rel="noopener noreferrer nofollow">$TAO</a> and Grayscale Sui Trust <a href="https://twitter.com/search?q=%24SUI&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">$SUI</a>.<br><br>Available to eligible accredited investors.<br><br>Press release: <a href="https://t.co/Xplh81KI9W" rel="noopener noreferrer nofollow">https://t.co/Xplh81KI9W</a><br><br>1/3 <a href="https://t.co/pGcLhcZSdD" rel="noopener noreferrer nofollow">pic.twitter.com/pGcLhcZSdD</a></p>— Grayscale (@Grayscale) <a href="https://twitter.com/Grayscale/status/1821170731478356476?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">August 7, 2024</a>
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<p>Grayscale’s decision to include these tokens reflects its commitment to providing crypto investment opportunities to its investors. Currently, these new trusts are available for daily subscription to qualified individual and institutional accredited investors.</p>
<h2 class="wp-block-heading" id="h-morgan-stanley-introduces-bitcoin-etfs-to-wealthy-clients"><strong>Morgan Stanley Introduces Bitcoin ETFs to Wealthy Clients</strong></h2>
<p>Concurrently with Grayscale’s announcement,&nbsp;<a href="https://www.thecoinrepublic.com/2024/08/03/morgan-stanleys-new-policy-bitcoin-etfs-for-eligible-clients/" rel="noopener noreferrer nofollow">Morgan Stanley</a>&nbsp;has started offering Bitcoin ETFs to its clients. This is a major step towards the provision of cryptocurrency services by big Wall Street firms. Morgan Stanley’s advisors can now recommend Bitcoin ETFs to clients who meet certain wealth thresholds. Only clients with a net worth of at least $1.5 million can access this service.</p>
<p>The financial giant has given the green light to BlackRock’s iShares Bitcoin Trust and Fidelity’s Wise Origin Bitcoin Fund for clients’ investments. This selection offers the chance to invest in Bitcoin via products offered by prominent financial institutions.</p>
<p>The bank’s approval follows a detailed compliance and review process, highlighting its response to client demand for crypto-focused financial products.</p>
<p>Moreover,&nbsp;<strong>Morgan Stanley</strong>&nbsp;holds significant amount of assets under management and previously held positions in Grayscale’s Bitcoin Trust. This reflects its ongoing commitment to integrate crypto into its investment offerings.</p>
<h2 class="wp-block-heading" id="h-wells-fargo-to-follow-suit"><strong>Wells Fargo to Follow Suit?</strong></h2>
<p>Following the footsteps of Morgan Stanley,&nbsp;<strong>Wells Fargo</strong>&nbsp;is reportedly to expand the services of its financial advisors by permitting them to negotiate&nbsp;<a href="https://www.thecoinrepublic.com/2024/08/06/satoshis-vision-for-bitcoin-affirmed-by-cryptoquant-ceo/" rel="noopener noreferrer nofollow">Bitcoin</a>&nbsp;ETFs to certain investors.</p>
<p>This decision will give the company’s customers a similar chance to invest in Bitcoin through ETFs. Indications are that the bank may approve Bitcoin ETFs by next month.</p>
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   <p lang="en" dir="ltr">UPDATE: several sources <a href="https://twitter.com/WellsFargo?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">@WellsFargo</a> believe that they will quickly follow <a href="https://twitter.com/MorganStanley?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">@MorganStanley</a> with <a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#Bitcoin</a> ETF approvals. <br><br>• expect to approve more than just <a href="https://twitter.com/search?q=%24IBIT&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">$IBIT</a> and <a href="https://twitter.com/search?q=%24FBTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">$FBTC</a><br>• full platform approval next month (or sooner)<br>• <a href="https://twitter.com/search?q=%24WFC&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">$WFC</a> WMA has $1.9T in AUM</p>— Andrew (@AP_Abacus) <a href="https://twitter.com/AP_Abacus/status/1821157426873184290?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">August 7, 2024</a>
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<p>The pending approval by Wells Fargo demonstrates the competitive environment in the financial services sector. Banks are trying to satisfy the different demands of their clients in investing. This entails offering exposure to newer asset classes like cryptocurrencies.</p>
<p>While dealing with cryptocurrency regulation, these banks have not stopped enhancing the ways to address the client’s needs. These developments from Grayscale, Morgan Stanley, and Wells Fargo underscore a shift towards integrating crypto options into traditional investment portfolios.</p>
<p>The post <a href="https://www.thecoinrepublic.com/2024/08/08/grayscale-and-morgan-stanley-embrace-crypto-will-wells-fargo-follow/" rel="noopener noreferrer nofollow">Grayscale and Morgan Stanley Embrace Crypto, Will Wells Fargo Follow?</a> appeared first on <a href="https://www.thecoinrepublic.com" rel="noopener noreferrer nofollow">The Coin Republic</a>.</p>

Grayscale and Morgan Stanley Embrace Crypto, Will Wells Fargo Follow?

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