Grayscale Investments has announced the launch of two new cryptocurrency investment trusts—Grayscale Bittensor Trust and Grayscale Sui Trust. These new offerings aim to provide accredited investors with targeted exposure to the burgeoning fields of decentralized artificial intelligence (AI) and scalable blockchain technology.
Grayscale’s latest move marks an important step in expanding its portfolio. According to Grayscale, Bittensor Trust (TAO) and Sui Trust (SUI) are designed as Delaware Grantor Trusts, passively holding their respective underlying assets. The Bittensor Trust focuses on TAO, a token used to incentivize open-source AI development within the Bittensor protocol.
The Sui Trust is dedicated to SUI, the token that powers the Sui blockchain, which aims to support scalable decentralized applications through its advanced programming language and architecture.
“As is the case for Grayscale’s suite of more than 20 publicly quoted investment vehicles, the Grayscale team intends to attempt to have shares of Grayscale Bittensor Trust (TAO) and Grayscale Sui Trust (SUI) quoted on a secondary market as well,” the firm stated.
Grayscale Investments: Opportunities for Accredited Investors
Both trusts will raise assets through private placement offerings available to accredited investors, Grayscale noted on Wednesday. The trusts, which carry a 2.5% annual fee and no upfront or performance fees, reflect Grayscale’s ongoing strategy to expand its portfolio of digital asset investment products.
Grayscale investments has always been at the forefront of providing innovative investment solutions, and these new trusts are no exception. The introduction of the Bittensor and Sui Trusts aims to cater to the growing interest in decentralized AI and scalable blockchain technologies.
The Bittensor Trust is particularly notable for its focus on decentralized AI. Bittensor is a protocol that encourages the development of open-source AI models, which can be rewarded using the TAO token. This approach aims to create a decentralized network of AI models that can learn from each other, enhancing the overall quality and efficiency of AI development.
On the other hand, the Sui Trust is centered around the Sui blockchain. Sui is designed to support scalable decentralized applications, using its unique programming language and architecture to provide a robust platform for developers. This makes it an attractive option for investors looking to gain exposure to cutting-edge blockchain technology.
Grayscale Investments intends to seek secondary market listings for both the Bittensor and Sui Trusts. However, the company has cautioned that there is no guarantee of approval from regulatory bodies. This means that investors should be prepared to hold these investments for the long term if necessary.
“We are excited to add Bittensor and Sui to our product suite, and believe Bittensor is at the center of the growth of decentralized AI, while Sui is redefining the smart contract blockchain,” Grayscale’s Head of Product & Research, Rayhaneh Sharif-Askary remarked.
Grayscale Investments Continues to Innovate
With the launch of the Bittensor and Sui Trusts, Grayscale investments continues to solidify its position as a leader in the cryptocurrency investment space. The firm’s commitment to providing innovative investment solutions is evident in these new offerings, which cater to the growing interest in decentralized AI and scalable blockchain technology.
As Grayscale moves forward with its plans to seek secondary market listings for these trusts, investors will be watching closely to see how these new products perform. For now, the launch of the Bittensor and Sui Trusts represents another significant milestone for Grayscale and the broader cryptocurrency investment landscape.
Grayscale’s ability to innovate and expand its product suite demonstrates its dedication to meeting the evolving needs of investors. With these new trusts, Grayscale is offering a unique opportunity to invest in some of the most promising areas of the digital asset space.
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