Creation of new Trusts reflects Grayscale’s desire to meet growing investor demand for diversified crypto exposure
STAMFORD, Conn., Aug. 07, 2024 (GLOBE NEWSWIRE) -- Grayscale Investments®, the world’s largest crypto asset manager*, offering more than 20 crypto investment products, today announced the creation and public launch of two new crypto investment trusts: Grayscale® Bittensor Trust and Grayscale® Sui Trust (collectively “the Trusts”).
Grayscale® Bittensor Trust is solely invested in TAO, the token underpinning the Bittensor protocol, which leverages tokens to incentivize the development of open-source AI. Grayscale® Sui Trust is focused solely on investing in SUI, the token underpinning the Sui protocol, a high-performance Layer 1 smart contract blockchain designed to enable globally scalable decentralized applications.
“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,” 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 new Trusts are now open for daily subscription by eligible individual and institutional accredited investors. The Trusts function like Grayscale’s existing suite of single-asset investment trusts, and each are among the first investment products solely invested in the tokens underpinning the Bittensor Protocol (TAO) and Sui (SUI).
This press release is not an offer to sell or the solicitation of an offer to buy any security in any jurisdiction where such an offer or solicitation would be illegal, nor shall there be any sale of any security in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of that jurisdiction.
Grayscale intends to attempt to have Shares of new products quoted on a secondary market. However, there is no guarantee that we will be successful. Although the shares of certain products have been approved for trading on a secondary market, investors in the new products should not assume that the Shares will ever obtain such an approval due to a variety of factors, including questions regulators, such as the SEC, FINRA, or other regulatory bodies may have regarding such products. As a result, shareholders of such products should be prepared to bear the risk of investment in the Shares indefinitely.To date, certain products have not met their investment objective and the Shares of such products quoted on OTCQX have not reflected the value of the digital assets held by such products, less such products’ expenses and other liabilities, but have instead traded at a premium over such value, which at times has been substantial. There have also been instances where the Shares of certain products have traded at a discount.
*at $25.7B as of 8/1/2024
About Grayscale Investments®
Grayscale enables investors to access the digital economy through a family of future-forward investment products. Founded in 2013, Grayscale has a proven track record and deep expertise as the world’s largest crypto asset manager. Investors, advisors, and allocators turn to Grayscale for single asset, diversified, and thematic exposure. For more information, please follow @Grayscale or visit grayscale.com.
Media Contact
Jennifer Rosenthal
press@grayscale.com
