Grayscale seeks U.S. listing for Bittensor ETP in first institutional bet on decentralized AI
Grayscale filed an S-1 registration for the Grayscale Bittensor Trust (GTAO) to offer the first U.S.-listed ETP tracking Bittensor's TAO token.Summary
Digital asset manager Grayscale has filed an initial S-1 registration statement with the SEC to launch the Grayscale Bittensor Trust, which would be the first U.S.-listed exchange-traded product (ETP) offering exposure to Bittensor's native token, TAO. Expected to trade under the ticker GTAO, this move aims to provide regulated institutional access to TAO, which is associated with decentralized artificial intelligence and currently holds a market capitalization of about $2.3 billion. Grayscale Chairman Barry Silbert noted that the filing reflects the rapid evolution of decentralized AI. This filing follows a similar ETP announcement by Deutsche Digital Assets for the SIX Swiss Exchange. Bittensor functions as an open network incentivizing machine learning development via crypto-economic rewards, and this product launch signals growing institutional interest in packaging emerging decentralized AI crypto narratives into regulated investment vehicles.
(Source：CoinDesk)