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The filing marks the archetypal effort to bring TAO, Bittensor’s autochthonal token, to U.S. markets done a regulated concern product.
Dec 30, 2025, 4:51 p.m.
Grayscale is aiming to springiness U.S. investors vulnerability to Bittensor’s TAO, pushing decentralized artificial quality further into mainstream crypto markets.
The integer plus manager filed an archetypal S-1 registration statement with the U.S. Securities and Exchange Commission connected Tuesday for what would beryllium the archetypal U.S.-listed exchange-traded merchandise (ETP) offering vulnerability to TAO.
The projected Grayscale Bittensor Trust, expected to commercialized nether the ticker GTAO, would clasp TAO straight if approved, giving investors regulated entree to 1 of the largest tokens associated with decentralized AI. TAO presently has a marketplace headdress of astir $2.3 billion, according to CoinDesk data.
“Today we filed the archetypal S-1 for Grayscale Bittensor Trust (ticker: $GTAO) with the SEC,” the steadfast said in a station connected X, calling the filing the adjacent measurement toward converting the spot into an ETP.
Barry Silbert, president of Grayscale, wrote connected X that the determination reflects however rapidly decentralized AI is evolving. “Decentralized AI is processing quickly, and Grayscale is pioneering access,” Silbert said.
The filing marks the archetypal specified ETP successful the U.S. for TAO. Previously, Deutsche Digital Assets, a Germany-regulated supplier of exchange-traded products (ETPs), said it would database a Bittensor ETP, which volition commercialized connected the SIX Swiss Exchange nether the ticker STAO.
Bittensor operates arsenic an unfastened web that uses crypto-economic incentives to coordinate instrumentality learning development, rewarding contributors of models and computing powerfulness with TAO. The task has garnered attraction arsenic investors question vulnerability to AI-related crypto assets beyond accepted astute declaration platforms.
While support is not guaranteed, the filing underscores however plus managers are progressively racing to bundle emerging crypto narratives, including decentralized AI, into regulated concern products, signaling increasing organization appetite for the sector.
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