Grayscale has launched two crypto investment products. These are the Grayscale Bittensor Trust and the Grayscale Sui Trust. The former invests in Bittensor’s native token TAO. The second one focuses exclusively on the SUI token of the Sui protocol. Thus, these two new altcoin trusts are included in Grayscale’s list of 18 crypto investment products.
SUI and TAO from Grayscale
Crypto asset manager Grayscale has added Bittensor (TAO) and Sui (SUI) to its list of crypto investment products. According to a statement by officials, Grayscale launched the Grayscale Bittensor Trust and Grayscale Sui Trust on Wednesday. The Grayscale Bittensor Trust invests in Bittensor’s native token TAO. The other, Grayscale Sui Trust, focuses exclusively on the SUI token of the Sui protocol. Rayhaneh Sharif-Askary, Grayscale’s head of product and research, said in a statement:
We are excited to add Bittensor and Sui to our product suite and believe that Bittensor is at the heart of the growth of decentralized AI, while Sui is redefining smart contract Blockchain. With the launch of the Grayscale Bittensor Trust and Grayscale Sui Trust, we continue to offer investors familiar products that provide access to tokens at the most affordable prices.
Grayscale expands altcoin trusts
As you have been following on Kriptokoin.com, on May 23rd, Grayscale launched two trusts. These altcoin trusts invest in Near (NEAR) and Stacks (STX). These funds gave accredited institutional and retail investors access to daily subscriptions for a diversified crypto portfolio. Grayscale also holds trusts related to Solana (SOL), Litecoin (LTC), Stellar (XLM), Zcash (ZEC), Chainlink (LINK), Decentralized (MANA) and other crypto investment products.
Meanwhile, SUI, a new investment product launched by Grayscale, has been impressing the market with its performance. The altcoin was trading at $0.6368 at the time of writing, up over 11% on the day. The other token, TAO, is relatively underperforming. However, it is still up 3.6% to $263.8.
Grayscale’s Ethereum Trust outflows exceed $2 billion
Grayscale was one of the first institutions to offer institutional investors exposure to Ether through the Grayscale Ethereum Trust, which has now been converted into an exchange-traded fund (ETF). The fund saw outflows of about $78 million on August 1. This brought the product’s cumulative outflows to over $2 billion. Analysts predict that outflows will decrease. In addition, analysts assess that this will potentially be a bullish catalyst for the leading altcoin Ethereum.
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