Render

Bittensor

Filecoin

Grayscale Bitcoin Trust

Grayscale Investments has&nbsp;<a style="text-decoration:none" href="https://www.globenewswire.com/news-release/2024/08/07/2925970/0/en/Grayscale-Investments-Launches-Two-New-Product-Offerings-Grayscale-Bittensor-Trust-and-Grayscale-Sui-Trust.html">introduced</a> two new crypto investment trusts, adding to its growing portfolio. The newly launched funds, the Grayscale Bittensor Trust and the Grayscale Sui Trust, offer exposure to the native tokens of Bittensor and Sui blockchain protocols.
Announced on August 7, these single-asset funds are designed to provide accredited investors with a streamlined way to invest in these specific digital assets.
<h2 dir="ltr" id="span-span-new-products-for-a-diverse-portfolio-span-span">New Products for a Diverse Portfolio</h2>
Grayscale's new trusts function similarly to its existing single-asset investment products. The firm has a reputation for creating financial instruments that allow exposure to crypto assets without the need for direct acquisition.&nbsp;
&nbsp;
These new products follow the recent launch of a decentralized AI-focused digital asset trust, which includes exposure to multiple tokens like Near (NEAR), Render (RNDR), and Filecoin (FIL). As of August 5, this AI-focused trust had nearly $1 million in assets under management.
<h2 dir="ltr" id="span-span-bittensor-and-sui-a-closer-look-span-span">Bittensor and Sui: A Closer Look</h2>
The Grayscale Bittensor Trust and Grayscale Sui Trust are significant because they are among the first investment products to focus exclusively on the Bittensor and Sui protocols.&nbsp;
&nbsp;
Bittensor is a decentralized network designed for creating and distributing machine learning models. Sui, on the other hand, is a blockchain protocol known for its scalability and efficiency.
&nbsp;
These new trusts provide an opportunity for investors to gain exposure to these innovative blockchain projects through a familiar investment vehicle. This approach aligns with Grayscale's strategy of offering specialized products that cater to the diverse interests of crypto investors.
<h2 dir="ltr" id="span-span-grayscale-s-market-position-span-span">Grayscale’s Market Position</h2>
Grayscale is well-known in the crypto investment space for its popular products like the Grayscale Bitcoin Trust (GBTC) and the Grayscale Ethereum Trust (ETHE). Earlier this year, Grayscale converted its long-running Ethereum Trust into an exchange-traded fund (ETF) structure, following regulatory approval in the U.S.
&nbsp;
However, on&nbsp;<a style="text-decoration:none" href="https://sosovalue.com/assets/etf/us-eth-spot">Aug. 6</a>, Grayscale’s GBTC saw outflows of about $32.18 million and its ETHE saw $39.73 million in outflows. GBTC has a cumulative net outflows of $19.16 billion while ETHE has a net outflows of $2.20 billion.

Grayscale Expands Crypto Offerings with Bittensor and Sui

Table of Contents

BSCN

Other articles published on Aug 19, 2024

BlackRock Surpasses Grayscale as World’s Largest Crypto ETF Provider

Top DePIN Projects in Terms of Social Activity, TAO Leads the Way

Bitget Strengthens Its Support of Solana Amidst The Potential ETF Approval, Launches a Hackathon ...

What is the Recent Paradigm-Funded Reddio Network?

Important Ripple v SEC Lawsuit Updates, Bearish Shiba Inu (SHIB) Outlook, and More: Bits Recap Au...

Tether (USDT) Support for This Altcoin Arrived! Price Moved!

Join our free newsletter for daily crypto updates!