Grayscale Investments has unveiled two new cryptocurrency investment trusts—the Grayscale Bittensor Trust and the Grayscale Sui Trust.
These new offerings aim to provide accredited investors with targeted exposure to the rapidly expanding fields of decentralised artificial intelligence (AI) and scalable blockchain technology.
The Bittensor Trust (CRYPTO:TAO) focuses on TAO, a token designed to incentivise the development of open-source AI within the Bittensor protocol.
This protocol aims to create a decentralised network where AI models can collaborate and improve.
By holding TAO tokens, investors indirectly support and benefit from advancements in decentralised AI technology.
The Sui Trust (CRYPTO:SUI) is dedicated to SUI, the native token of the Sui blockchain.
The Sui blockchain aims to support scalable decentralised applications (dApps) through its advanced programming language and architecture.
Sui is designed to handle a high volume of transactions efficiently, making it suitable for applications requiring scalability and speed.
Both trusts are structured as Delaware Grantor Trusts, meaning they passively hold their respective underlying assets.
This passive holding strategy allows investors to gain exposure to these assets without the need for active management.
Grayscale plans to seek secondary market listings for these trusts, similar to its existing suite of over 20 publicly quoted investment vehicles.
However, regulatory approval for these listings is not guaranteed, so investors should be prepared for long-term holdings.
The new trusts will gather assets through private placement offerings available exclusively to accredited investors.
These trusts carry a 2.5% annual fee but do not have upfront or performance fees, aligning with Grayscale's strategy to expand its portfolio of digital asset investment products.
Rayhaneh Sharif-Askary, Grayscale’s Head of Product & Research, expressed enthusiasm about these new trusts, stating, “We believe Bittensor is at the forefront of decentralised AI growth, while Sui is redefining the smart contract blockchain.”
This initiative highlights Grayscale's commitment to offering diverse investment opportunities in emerging sectors within the cryptocurrency space, addressing the growing interest in decentralised AI and scalable blockchain technologies.