Grayscale Expands Portfolio with New Bittensor and Sui Crypto Trusts

Grayscale has unveiled two new trusts: the Grayscale Bittensor Trust and the Grayscale Sui Trust. Announced on Wednesday 7 August 2024, these additions are poised to offer investors fresh opportunities in the rapidly evolving cryptocurrency market.

The Grayscale Bittensor Trust is designed to invest directly in TAO, the native token of the Bittensor network, which is at the forefront of decentralized artificial intelligence innovation. Meanwhile, the Grayscale Sui Trust focuses exclusively on SUI, the token powering the Sui protocol, known for its advancements in smart contract blockchain technology.

Rayhaneh Sharif-Askary, Grayscale’s head of product and research, expressed enthusiasm about these new products. "We are thrilled to incorporate Bittensor and Sui into our suite of offerings. Bittensor is pivotal in the growth of decentralized AI, and Sui is transforming the smart contract blockchain space," she stated. "The launch of these trusts reinforces our commitment to providing investors with accessible, cutting-edge crypto investment options."

This move follows Grayscale’s recent introduction of trusts for Near (NEAR) and Stacks (STX) on May 23. These trusts have enabled accredited institutional and retail investors to diversify their portfolios with daily subscription options.

Grayscale's expanding portfolio also includes trusts for a range of other prominent cryptocurrencies, such as Solana, Litecoin, Stellar, Zcash, Chainlink, and Decentraland. This latest expansion underscores Grayscale's dedication to broadening investor access to innovative crypto assets and staying at the vanguard of the crypto ecosystem’s growth.