Grayscale: new crypto funds for TAO and SUI tokens

Grayscale has launched two new crypto funds: Grayscale Bittensor Trust and Grayscale Sui Trust. The first is dedicated to the decentralized artificial intelligence project Bittensor and holds only TAO tokens, while the second is dedicated to the layer-1 blockchain Sui and holds only SUI tokens.

Grayscale and the two new crypto funds for the projects behind TAO and SUI

Grayscale, the investment company behind the famous Bitcoin and Ethereum spot ETFs, has announced that it has launched two new crypto funds: Grayscale Bittensor Trust and Grayscale Sui Trust.

“We are proud to announce the creation of two new single-asset cryptocurrency investment funds, available through private placement: Grayscale Bittensor Trust $TAO and Grayscale Sui Trust $SUI. Available for eligible accredited investors.”

In practice, the Grayscale Bittensor Trust is dedicated to the decentralized artificial intelligence project (AI) behind the TAO token. The Grayscale Sui Trust, on the other hand, focuses exclusively on the SUI token of the blockchain-based layer-1 protocol of Sui.

Specifically, the two crypto funds are single-asset funds that exclusively hold the eponymous cryptocurrencies (TAO and SUI) and are accessible to eligible individual and institutional accredited investors.

Grayscale and the two new crypto investment products on TAO and SUI

The two new Grayscale Bittensor Trust and Grayscale Sui Trust are added to the list of no less than 18 other cryptocurrency investment products from Grayscale.

On this subject, Rayhaneh Sharif-Askary, Managing Director and Head of Products and Research at Grayscale, commented:

“We are excited to add Bittensor and Sui to our product suite and believe that Bittensor is at the heart of decentralized AI growth, while Sui is redefining the smart contract blockchain. With the launch of Grayscale Bittensor Trust and Grayscale Sui Trust, we continue to provide investors with familiar products that allow access to cutting-edge tokens in the ongoing evolution of the crypto ecosystem.”

The news of Grayscale’s support for TAO and SUI did not result in significant price spikes for the two crypto.

Indeed, both TAO and SUI seem to follow the general trend of the main cryptos, although with some differences. In fact, while TAO is worth $270 as it was yesterday, SUI has increased in price by +5% in the last 24 hours, reaching a value of $0.64.

The fund dedicated to decentralized Artificial Intelligence (AI)

Recently, Grayscale Investments announced the launch of its new and innovative fund dedicated to decentralized Artificial Intelligence (AI).

It’s called the Grayscale Decentralized AI Fund LLC and aims to boost investments in this sector but within the crypto space.

With this move, the company continues to prove itself increasingly involved in the world of crypto investments, extending its focus towards another technological frontier of great potential.

In any case, the Grayscale Decentralized AI Fund LLC aims to finance and support decentralized AI projects, focusing on:

• AI Services
• Resolutions of Problems related to the centralized use of AI
• Development of infrastructures related to AI.