According to CryptoNinjas, Grayscale has filed an S-1 registration statement with the SEC to convert its Bittensor Trust into a spot ETF under the ticker GTAO. The proposed ETF will hold TAO directly, offering regulated U.S. exposure to the decentralized AI token. TAO has a capped supply of 21 million tokens, a market value of approximately $3 billion, and is among the top 40 digital assets globally. The ETF will track TAO’s value and will not use leverage, derivatives, or lending. Coinbase Custody is expected to join as custodian before listing.
Grayscale Files S-1 for Bittensor ETF, Targeting $3B TAO Market and Decentralized AI Boom
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Summary
Grayscale has filed an S-1 with the SEC to convert its Bittensor Trust into a spot ETF under the ticker GTAO. The ETF news marks a potential regulated on-ramp for U.S. investors to access TAO, a decentralized AI token with a $3 billion market cap and 21 million supply cap. The fund will hold TAO directly, without leverage or derivatives. Coinbase Custody is expected to serve as custodian ahead of listing. ETF news like this continue to draw attention amid ongoing Bitcoin ETF news developments.
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