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Leading crypto asset manager Grayscale has introduced investment funds for popular digital tokens Bittensor (TAO) and Sui (SUI), coinciding with Morgan Stanley advisors offering BlackRock Bitcoin ETF to clients.
Grayscale disclosed this move in an official press statement today, citing growing demand from investors for diversified crypto exposure. Specifically, the two new funds are Grayscale Bittensor Trust and Grayscale Sui Trust.
This marks the company’s latest expansion into the crypto asset market after launching similar products for Near and Stacks in May.
Details of Grayscale Bittensor (TAO) and Sui Trusts
Notably, the Grayscale Bittensor Trust will invest exclusively in TAO, the native token that powers the Bittensor protocol. This protocol utilizes tokens to drive the development of open-source artificial intelligence.
Similarly, the Grayscale Sui Trust will invest solely in SUI, the token that underlies the Sui protocol, an efficient Layer-1 smart contract chain supporting globally scalable dApps.
According to the Head of Product and Research at Grayscale, Rayhaneh Sharif-Askary, the company is confident that Bittensor is at the forefront of the decentralized AI movement while Sui is revolutionizing the smart contract blockchain space.
This conviction has driven Grayscale’s decision to expand its offerings to include these two promising tokens. With the introduction of these new funds, Bittensor and Sui join Grayscale’s over 20 crypto investment products.
The report highlights that the Grayscale Bittensor Trust and Grayscale Sui Trust are now available for daily subscription. In particular, they are available to qualified individual and institutional accredited investors.
Operating similarly to the single-asset investment trusts from Grayscale, these new Trusts offer investors a unique opportunity to gain exposure to the tokens underlying Bittensor and Sui, making them among the first investment products of their kind.
Morgan Stanley Advisors Now Offering BlackRock Bitcoin ETFs to Clients
Interestingly, Grayscale’s move coincides with Morgan Stanley’s announcement that it will permit its financial advisors to offer Bitcoin ETFs to select clients this week. This marks the first move among notable Wall Street financial institutions.
According to sources familiar with the policy, Morgan Stanley’s approximately 15,000 financial advisors can canvass eligible clients to buy shares of two Bitcoin ETF issuers starting today, August 7. The two funds in question are the Fidelity Bitcoin Fund and the BlackRock iShares Bitcoin Tru