Grayscale seeks approval for first U.S. Bittensor ETP to enhance decentralized AI investment
- Grayscale filed an S-1 registration statement with the SEC for the Grayscale Bittensor Trust, which would trade under the ticker GTAO.
- If approved, this trust would provide regulated access to TAO, a token with a market cap of approximately $2.3 billion.
- Barry Silbert, chairman of Grayscale, emphasized the rapid evolution of decentralized AI in a post on X.
- This filing represents the first attempt to launch a TAO ETP in the U.S.; Deutsche Digital Assets previously announced a similar product in Switzerland.
- Bittensor incentivizes machine learning contributions through crypto-economic rewards paid in TAO.
The move by Grayscale highlights growing institutional interest in decentralized AI and its integration into regulated investment products as asset managers respond to emerging crypto narratives.
With TAO’s market cap at around $2.3 billion, Grayscale’s initiative aims to broaden investor access to this significant asset class within the cryptocurrency space.(Source)
