Grayscale Crypto Investment Trusts for SUI and TAO Were Introduced
Key Points:
Read more: Grayscale Bitcoin Mini Trust Now Receives SEC Approval to Trade on NYSE Arca
According to The Block and other reports, new Grayscale crypto investment trusts give one-single-asset investment access to the Bittensor Protocol’s native token, TAO, and the SUI Token of the Sui Protocol.
The Grayscale Bittensor Trust will invest exclusively in TAO, which will be used to incentivize the development of open-source artificial intelligence through the Bittensor Protocol. The Grayscale Sui Trust will be concerned with the SUI token associated with the Sui protocol.
Both trusts are accepting subscriptions, albeit from eligible individual and institutional accredited investors only. That has essentially excluded retail traders from this opportunity.
Grayscale Crypto Investment Trusts work similarly to the firm’s current single-asset investment products, in that they offer investors exposure to these specific cryptocurrencies without them having to directly purchase their tokens.
This makes Grayscale very popular as a collection of crypto investment products, including the Grayscale Bitcoin Trust and the recently converted Grayscale Ethereum Trust to an ETF. The Bittensor and Sui trusts will bring the number of trusts in Grayscale to 20, rounded out with products linked to the value of assets like Solana, Litecoin, and Zcash.
DISCLAIMER: The information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing. |
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London, United Kingdom, 7th August 2024, Chainwire
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