Grayscale, one of the largest cryptocurrency asset managers in the market, has recently launched two new crypto funds: Grayscale Bittensor Trust, based on the price of the TAO token, and Grayscale Sui Trust, which will similarly derive from the performance of the SUI token.
The Grayscale Bittensor Trust is described by the company as one of the first investment funds based on the price of the Bittensor TAO token – a decentralized AI project.
“This fund allows investors to gain exposure to Bittensor in the form of a security, avoiding the challenges of buying, storing, and securing Bittensor directly.”
According to information on the company’s website, the product will be launched on October 6, 2024, with a management fee of 2.5%; as of Wednesday (7), the reported price per share is $5.15, following the real-time Bittensor reference rate from Coin Metrics.
Regarding the Sui Trust, which has been trading since August 1, 2024, at a price of $8.97 per share, the asset manager also describes it as one of the first funds exclusively for the SUI token, allowing investors to bet on the cryptocurrency without needing to buy it directly.
Like the TAO-based fund, the Sui Trust has a 2.5% management fee. However, the SUI reference rate is from CoinDesk. The company states that the funds are accessible to individual and accredited institutional investors.
Grayscale, which is part of the first group of companies issuing spot Bitcoin ETFs in the US, has also recently launched the Grayscale Decentralized AI Fund, which aims to provide accredited investors with exposure to protocols at the intersection of blockchain and artificial intelligence.
The fund focuses on a basket of decentralized AI crypto protocols, including Near (NEAR) with 32.99%, Filecoin (FIL) with 30.59%, Render (RNDR) with 24.86%, Livepeer (LPT) with 8.64%, and Bittensor (TAO) with a 2.92% stake.
For those interested in investing in cryptocurrencies selected by experts in a 100% automated way, Grayscale’s new funds offer an opportunity to diversify and access unique investment opportunities in the crypto market.
The post Grayscale launches new investment funds based on TAO and SUI tokens first appeared on Portal do Bitcoin.
