Grayscale is seeking to convert its TAO Trust into an exchange-traded fund, just weeks after the network’s native token underwent its first halving event. On Tuesday, the digital asset investment firm filed a registration statement with the Securities and Exchange Commission for the Grayscale Bittensor Trust (TAO).
The filing marks the first attempt to launch a U.S spot ETF offering direct exposure to Bittensor. “We’re pleased to take this early step as we continue to expand the tools available to investors and further develop Grayscale’s product platform to meet the growing investor demand for digital asset exposure,” a Grayscale spokesperson said in a statement sent to The Block.
The Grayscale Bittensor Trust, which had been private since 2024, became more accessible to a broader set of investors via public quotation earlier this month. Grayscale’s Bittensor ETF would trade on NYSE Arca under the ticker symbol GTAO. Coinbase Custody Trust Company LLC and BitGo Trust Company, Inc., would be the custodians, according to Tuesday’s filing.
TAO is the native token of Bittensor, a decentralized, AI-focused network built on a hub-and-spoke blockchain architecture that supports application-specific subnets. Participants earn TAO by contributing computing resources that help improve and support these AI-driven networks.
On-chain investigator ZachXBT has publicly questioned the financial health of cryptocy exchange AscendEXafter mounting reports of users waiting days—and…
Tether is expanding beyond stablecoins once again—this time by turning its massive $23 billion gold reserve into an…
Strategy Executive Chairman Michael Saylor is standing by his long-term Bitcoin strategy despite mounting pressure from investors as…
Polymarket has pledged to fully reimburse users after hackers stole approximately $2.9 million through a sophisticated phishing attack…
Base, the Ethereum Layer-2 blockchain incubated by Coinbase, has fully restored operations after suffering a block production…
Bitcoin has fallen below the $60,000 level once again, placing the world's largest cryptocy on pace to record…