Grayscale Creates New Crypto Trusts to Offer Exposure to AI Project Bittensor and Layer 1 Blockchain Sui
- 王林Original
- 2024-08-08 06:47:40832browse
Grayscale Investments, the world's largest provider of digital asset products by assets under management with $23 billion, has created two new crypto trusts
Grayscale, the world’s largest digital asset manager with $23 billion in AUM, has announced the launch of two new crypto trusts.
The trusts will provide clients with exposure to AI project Bittensor and Layer 1 blockchain Sui. Both trusts will be single asset-based, focusing on Bittensor’s TAO token and Sui’s SUI token, and will only be available via private placement.
TAO is currently trading at $269, up 13% in the past 30 days, while SUI is priced at $0.62 and down 6% in the same period.
The move is part of Grayscale’s broader strategy to increase its presence in the AI sector. The firm currently has only one AI product, the Grayscale Decentralized AI fund, which has attracted over $1 million in AUM since its launch on July 17.
The fund includes TAO, Filecoin (FIL), Livepeer (LPT) ,Near (NEAR), and Render (RNDR), and Near (NEAR).
Grayscale’s SUI fund has already attracted $219,000 in AUM, while the Bittensor fund holds $1.2 million.
“We believe Bittensor is at the center of the growth of decentralized AI, while Sui is redefining the smart contract blockchain," said Grayscale’s Head of Product & Research, Rayhaneh Sharif-Askary.
“With the launch of Grayscale Bittensor Trust and Grayscale Sui Trust, we continue to provide investors with familiar products that enable access to tokens at the cutting edge of the crypto ecosystem’s continued evolution.”
The two new funds will join Grayscale’s single-asset investment suite, which includes Ethereum Classic (ETC), the largest of its kind under the Grayscale umbrella with $206 million in AUM, Bitcoin Cash (BCH) with $113 million, and Litecoin (LTC) with $108 million.
Grayscale still holds over 238,000 BTC or $13 billion, but it has seen billions in outflows since the successful launch of the Bitcoin ETF on Jan. 11, as Grayscale’s higher fees have pushed investors to competing funds.
The story is similar for Ethereum’s ETF game, with outflows exceeding $2 billion.
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