Grayscale Adds Bittensor [TAO] and Sui [SUI] to Its Crypto Products, Expanding Portfolio to Decentralized AI and Deepening Exposure in Smart Contracts Platforms

Grayscale has added Bittensor [TAO] and Sui [SUI] to its crypto products, marking portfolio expansion to decentralized AI (artificial intelligence) and deepening exposure in smart contracts platforms.

Grayscale has expanded its crypto offerings by adding Bittensor (TAO) and Sui (SUI) to its product lineup, increasing its presence in decentralized AI (artificial intelligence) and smart contract platforms.

Grayscale's Head of Product and Research, Rayhaneh Sharif-Askary, commented on the new products, saying:

“We are thrilled to add Bittensor and Sui to our product suite. We believe Bittensor is at the heart of decentralized AI's growth, and Sui is redefining the smart contract blockchain.”

According to Askary, these products are similar to those offered by Grayscale's single-asset investment trusts. The addition of SUI and TAO brings the total number of Grayscale's single-crypto asset trusts to 16.

Both SUI and TAO have reacted positively to the news. The Sui team welcomed Grayscale's decision to include its token in its product suite.

Recently, the new smart contract blockchain has gained a lot of attention. In July, Sui had the second-highest transaction count after Solana, reaching 242 million.

However, despite the impressive network growth, SUI, like most altcoins, has been trending lower on price charts, as evidenced by the descending channel.

At the time of writing, the altcoin was up 4.5% on the daily chart, trading at $0.64.

Can the Grayscale update help the recovery continue?

It's not guaranteed. On the daily chart, SUI's RSI (Relative Strength Index) was approaching the neutral line, which could indicate a potential rejection and buyer exhaustion. Additionally, SUI had encountered the key resistance level at $0.63 and still faced another overhead barrier – the channel's mid-range.

In summary, the SUI rally could end quickly if Bitcoin's [BTC] recovery doesn's continue.

Regarding TAO, the AI token has seen some of the best recovery gains following the recent market sell-off. At the time of writing, TAO was up over 60% since Monday, netting a 10% gain on Thursday, trading at $273.

A convincing move above the 50% Fib level could set the token at $320 or $350, with a potential gain of +35%.

One market observer suggested that TAO could increase 10x, reaching $1.5k by year's end.

“Many big chads are betting on this gem; if we get a proper bull run, $TAO could potentially reach $1.5k by EOY, assuming $BTC soars past $100k.”

In addition to the single-asset Grayscale Bittensor Trust, the company also has a decentralized AI fund that includes TAO. In the fund's weight, TAO only accounts for 3.6%, while Filecoin [FIL], Near [NEAR], and Render [RNDR] have the largest allocations.

Given that AI is a major narrative this cycle, Grayscale's move could benefit TAO more than SUI on the price charts.

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