World’s largest crypto asset manager, Grayscale, has announced the launch of two more crypto products. They are already offering over 20 crypto investment funds including Bitcoin, Bitcoin Cash, Ethereum etc. They now have announced the launch of crypto investment funds for Sui and TAO. Let’s explore what they plan with these new investment trusts.
Launch of New investment Funds
In a press release, grayscale shared the news about the creation and public launch of investment funds for Sui and TAO. Grayscale Bittensor Trust is invested in TAO, the token for Bittensor protocol. This protocol establishes a marketplace that transforms machine intelligence into a tradable commodity. It leverages tokens to incentivize development of open source AI.
The second product, Grayscale Sui Trust invests in the native token of Sui protocol which is a layer 1 smart contract blockchain. This blockchain runs parallel transactions and helps in building highly scalable decentralized applications.
Who Can Invest?
According to the information by Grayscale, these new trusts are available for daily subscriptions. Only eligible individuals and accredited institutional investors can participate in these new funds due to high risk investment. These news funds work similar to Grayscale’s existing single asset trusts that invest solely in a single cryptocurrency.
The Head of Product and Research for Grayscale, Rayhaneh Sharif-Askary says “ 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” She further adds “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.”
High Risk Products by Grayscale
Grayscale shares that it will try to get its new products on the secondary market for trading; however, this does not always result in success. There have been cases when its certain products reached the secondary market. However, the investors in the new products should not assume these new products will receive the same fate. There are multiple factors including regulators like SEC and FINRA that may or may not let the product enter secondary markets. Keeping these conditions in mind, the investors should stay prepared to bear the risks in these investments. There have been times when some products traded on premium while some had to be traded on discounts.
Earn more PRC tokens by sharing this post. Copy and paste the URL below and share to friends, when they click and visit Parrot Coin website you earn: https://parrotcoin.net0
PRC Comment Policy
Your comments MUST BE constructive with vivid and clear suggestion relating to the post.
Your comments MUST NOT be less than 5 words.
Do NOT in any way copy/duplicate or transmit another members comment and paste to earn. Members who indulge themselves copying and duplicating comments, their earnings would be wiped out totally as a warning and Account deactivated if the user continue the act.
Parrot Coin does not pay for exclamatory comments Such as hahaha, nice one, wow, congrats, lmao, lol, etc are strictly forbidden and disallowed. Kindly adhere to this rule.
Constructive REPLY to comments is allowed