Grayscale has long been a cornerstone of institutional-grade cryptocurrency asset management. As one of the most influential players in the digital asset space, its investment moves are closely watched by traders, analysts, and institutional investors alike. Recently, Grayscale has accelerated its product launches—signaling strong confidence in the current phase of the crypto market cycle.
With rising inflows into Bitcoin ETFs, growing anticipation around Ethereum ETF approvals, increased stablecoin adoption, and steady expansion in DeFi’s total value locked (TVL), Grayscale appears to be positioning itself strategically across emerging trends. But which assets are capturing their attention in 2025?
Let’s explore the key holdings and thematic bets that define Grayscale’s current investment strategy.
Grayscale’s Decentralized AI Fund: Betting on the Future of Open Intelligence
One of Grayscale’s boldest moves in recent months is the launch of its Decentralized AI Fund, the first investment vehicle focused exclusively on native tokens of decentralized artificial intelligence protocols. This fund includes:
- Filecoin (FIL) – For decentralized data storage powering AI training.
- NEAR Protocol (NEAR) – A scalable blockchain with built-in AI integration.
- Render (RNDR) – A distributed GPU network for rendering and AI computation.
- Livepeer (LPT) – Decentralized video processing infrastructure.
- Bittensor (TAO) – A protocol fostering open, community-driven machine learning models.
Grayscale highlights a growing concern: centralized AI controlled by big tech could lead to monopolistic control over critical technologies. In contrast, decentralized AI powered by blockchain offers transparency, fairness, and democratized access.
“Crypto has the potential to create a more equitable and trustworthy AI ecosystem,” Grayscale stated in a recent report.
While still in its infancy, the convergence of crypto and AI represents a high-conviction, long-term play. By investing early in foundational protocols, Grayscale is positioning investors at the forefront of what could become a transformative technological shift.
Grayscale Dynamic Income Fund: Earning Yield Beyond Price Appreciation
The Grayscale Dynamic Income Fund (GDIF) marks a strategic evolution in yield-focused crypto investing. Unlike traditional funds that rely solely on capital appreciation, GDIF aims to maximize returns through staking rewards and income-generating activities across multiple blockchains.
Key assets in GDIF include:
- Solana (SOL)
- Coinbase Wrapped Staked ETH (cbETH)
- NEAR Protocol (NEAR)
These networks offer some of the highest effective yields in proof-of-stake ecosystems. By dynamically allocating capital based on risk-adjusted returns and network fundamentals, GDIF provides exposure not just to price growth—but also to consistent passive income streams.
This cross-protocol diversification sets GDIF apart. It reflects a maturing market where investors seek more than volatility-driven gains—they want sustainable yield mechanisms backed by real network usage.
For those looking to balance growth with income, GDIF represents a compelling hybrid model in modern digital asset portfolios.
Spotlight on Individual Trusts: Strategic Bets Across Key Sectors
Grayscale NEAR Trust (NEAR)
NEAR Protocol stands out as a major focus for Grayscale due to its dual emphasis on AI integration and chain abstraction—a vision to simplify user interactions with blockchain technology.
Grayscale sees NEAR as a rising star in the ecosystem, driven by:
- A vibrant developer community
- Growing user adoption
- Native support for AI agents and machine learning applications
- Strong funding and ecosystem incentives
As global interest in accessible AI grows, NEAR’s user-owned AI vision could position it as a go-to platform for next-gen decentralized applications.
Grayscale Stacks Trust (STX)
Bitcoin’s limitations—lack of smart contract functionality and scalability—are well known. Enter Stacks (STX), Grayscale’s strategic bet on Bitcoin Layer 2 innovation.
Stacks enables smart contracts and DeFi applications to run securely atop Bitcoin’s settlement layer, leveraging its unmatched security while adding programmability.
With increasing demand for Bitcoin-based DeFi, NFTs, and ordinals, Stacks offers a compelling solution. Grayscale views this as essential infrastructure for expanding Bitcoin’s utility beyond digital gold.
Grayscale MakerDAO Trust (MKR)
MakerDAO remains a blue-chip pillar of decentralized finance. As the protocol behind DAI—the most widely used decentralized stablecoin—its governance token MKR plays a crucial role in maintaining system stability and guiding future development.
Grayscale’s trust in MakerDAO underscores renewed institutional interest in mature DeFi projects. MKR holders influence critical parameters like collateral types, risk models, and even real-world asset (RWA) integrations.
This trust gives investors exposure to one of crypto’s most resilient and economically significant ecosystems.
Grayscale Bittensor Trust (TAO)
Bittensor’s mission is radical yet visionary: to build an open, decentralized internet for artificial intelligence. Instead of letting AI be controlled by corporations, TAO incentivizes a global network of contributors to train, validate, and improve machine learning models.
Participants earn TAO tokens for contributing computational power or high-quality model outputs. This creates a self-sustaining marketplace for AI innovation—one that resists centralization.
In an era dominated by tech giants racing to monopolize AI, Grayscale sees Bittensor as a powerful counter-narrative promoting open collaboration and decentralized progress.
Grayscale SUI Trust (SUI)
Sui is redefining blockchain performance with its unique architecture designed for speed and scalability. Built using the Sui Move programming language, it supports parallel transaction processing, allowing thousands of transactions per second without congestion.
Grayscale believes Sui opens the door to previously impossible use cases—especially in gaming, social platforms, and high-frequency DeFi applications—where fast finality and low fees are non-negotiable.
As demand for seamless on-chain experiences grows, Sui’s technical edge may give it a lasting competitive advantage.
👉 See how high-performance blockchains are enabling the next generation of decentralized apps.
The “Grayscale Effect”: Does Inclusion Guarantee Success?
While Grayscale’s endorsements carry weight, they don’t guarantee market success. Historical examples show mixed results—take the Grayscale Decentraland Trust (MANA), which launched during peak metaverse hype but later faced declining interest as the sector cooled.
However, the broader pattern is clear: Grayscale is making aggressive, forward-looking bets across multiple high-potential sectors:
- Decentralized AI
- Scalable Layer 1s
- Bitcoin L2s
- Yield-generating protocols
- Foundational DeFi infrastructure
Their product rollouts reflect a strong bullish stance on the current market cycle—believing we’re in the mid-phase of a sustained crypto bull run fueled by real technological advancements and growing institutional adoption.
Frequently Asked Questions (FAQ)
Q: Why does Grayscale launch trusts for specific cryptocurrencies?
A: Grayscale creates trusts to provide regulated, institutional-grade exposure to digital assets. These products allow accredited and retail investors to gain indirect ownership without managing private keys or navigating exchanges directly.
Q: Does a Grayscale trust mean the asset will increase in price?
A: Not necessarily. While inclusion often brings visibility and short-term interest, long-term performance depends on underlying technology, adoption, and market conditions—not just institutional backing.
Q: How does the Grayscale Decentralized AI Fund work?
A: It invests exclusively in tokens associated with decentralized AI networks like Bittensor, Render, and Filecoin. The fund aims to capture value from the intersection of blockchain and open-source artificial intelligence development.
Q: Can individual investors buy into these funds?
A: Yes, many Grayscale products are available to both accredited and non-accredited investors, though eligibility varies by jurisdiction and fund type. Some are also listed publicly via OTC markets.
Q: What makes SUI different from other blockchains?
A: Sui uses object-centric data modeling and parallel execution to achieve high throughput and instant finality. This makes it ideal for applications requiring fast, scalable, and cost-efficient transactions.
Q: Is staking income from GDIF taxable?
A: Tax treatment varies by country. In many jurisdictions, staking rewards are considered taxable income upon receipt. Investors should consult a tax professional for personalized advice.
Grayscale’s latest moves reveal a clear roadmap: diversify across emerging narratives, focus on foundational technologies, and prepare for long-term structural shifts in computing and finance. Whether you're tracking AI, Bitcoin L2s, or scalable DeFi platforms—Grayscale’s portfolio offers valuable clues about where the smart money is flowing in 2025.