CryptoNews

Grayscale Launches 2 New Crypto Trusts Focused on AI and Scalable Blockchain Tech

Grayscale Launches New Cryptocurrency Investment Trusts

Grayscale Investments has announced the launch of two new cryptocurrency investment trusts—Grayscale Bittensor Trust and Grayscale Sui Trust. These new offerings aim to provide accredited investors with targeted exposure to the burgeoning fields of decentralized artificial intelligence (AI) and scalable blockchain technology.

Grayscale Rolls Out Bittensor and Sui Trusts for Accredited Investors

According to Grayscale, the Bittensor Trust (TAO) and Sui Trust (SUI) are designed as Delaware Grantor Trusts, passively holding their respective underlying assets. The Bittensor Trust focuses on TAO, a token used to incentivize open-source AI development within the Bittensor protocol.

The Sui Trust is dedicated to SUI, the token that powers the Sui blockchain, which aims to support scalable decentralized applications through its advanced programming language and architecture.

“As is the case for Grayscale’s suite of more than 20 publicly quoted investment vehicles, the Grayscale team intends to attempt to have shares of Grayscale Bittensor Trust (TAO) and Grayscale Sui Trust (SUI) quoted on a secondary market as well,” the firm stated.

Both trusts will raise assets through private placement offerings available to accredited investors, Grayscale noted on Wednesday. The trusts, which carry a 2.5% annual fee and no upfront or performance fees, reflect Grayscale’s ongoing strategy to expand its portfolio of digital asset investment products.

The announcement notes that while Grayscale intends to seek secondary market listings for these trusts, there is no guarantee of approval from regulatory bodies, meaning investors should be prepared to hold these investments long-term.

“We are excited to add Bittensor and Sui to our product suite, and believe Bittensor is at the center of the growth of decentralized AI, while Sui is redefining the smart contract blockchain,” Grayscale’s Head of Product & Research, Rayhaneh Sharif-Askary remarked.

Source: Bitcoin

Related posts
AI & RoboticsNews

Mike Verdu of Netflix Games leads new generative AI initiative

AI & RoboticsNews

Google just gave its AI access to Search, hours before OpenAI launched ChatGPT Search

AI & RoboticsNews

Runway goes 3D with new AI video camera controls for Gen-3 Alpha Turbo

DefenseNews

Why the Defense Department needs a chief economist

Sign up for our Newsletter and
stay informed!