Grayscale Investments, renowned for its Bitcoin (BTC) and Ethereum (ETH) exchange-traded funds, has announced the launch of two novel cryptocurrency funds. These funds will be dedicated to the native tokens of the decentralized artificial intelligence initiative Bittensor Protocol (TAO) and the Layer-1 blockchain network Sui (SUI).

The newly introduced Grayscale Bittensor Trust and Grayscale Sui Trust are single-asset funds, exclusively holding their respective cryptocurrencies. These investment vehicles are available to both individual and institutional accredited investors, as stated in a recent press release from Grayscale.

Read more: Grayscale Unveils Decentralized Crypto AI Fund for Accredited Investors

“We are thrilled to incorporate Bittensor and Sui into our suite of offerings. Bittensor is poised at the forefront of decentralized AI advancement, while Sui is revolutionizing the smart contract blockchain landscape,” remarked Rayhaneh Sharif-Askary, Grayscale’s Head of Product and Research.

This development follows the firm’s recent introduction of a digital asset trust focused on decentralized AI, which provides exposure to TAO along with other tokens such as Near (NEAR), Render (RNDR), and Filecoin (FIL). As of August 5, this fund had amassed nearly $1 million in assets under management, according to its official site.

Additionally, Grayscale has recently transitioned its longstanding Grayscale Ethereum Trust (ETHE) to an exchange-traded fund (ETF) structure, permitting redemptions post-regulatory approval by U.S. authorities. A similar restructuring was executed for its flagship Grayscale Bitcoin Trust (GBTC) in January of this year.