According to CoinRepublic, Grayscale has filed a Form S-1 with the SEC to convert its Bittensor Trust into an ETF, which would be the first to offer institutional investors spot exposure to the AI-focused TAO token. The ETF, to be listed on NYSE Arca under the ticker GTAO, will hold TAO tokens and staking earnings, with Coinbase as the primary broker and BitGo as the custody provider. The Bittensor network recently completed its first halving, reducing daily TAO issuance from 7,200 to 3,600. The ETF registration could take effect next year, following the Trust’s recent OTCQX listing and SEC approval of its Form 10 registration.
Grayscale Files S-1 to Launch First Bittensor ETF in the US
The Coin RepublicShare
Summary
Grayscale filed an S-1 with the SEC to convert its Bittensor Trust into an ETF, potentially the first to offer institutional investors direct exposure to the AI-focused TAO token. The ETF, to be listed on NYSE Arca as GTAO, will hold TAO tokens and staking rewards, with Coinbase as the lead broker and BitGo as custodian. The Bittensor network recently cut TAO issuance in half, lowering daily output to 3,600 tokens. The ETF registration could be approved next year, following the Trust’s OTCQX listing and SEC approval of its Form 10. This ETF news comes amid growing interest in digital asset products, including Bitcoin ETF news.
Source:Show original
Disclaimer: The information on this page may have been obtained from third parties and does not necessarily reflect the views or opinions of KuCoin. This content is provided for general informational purposes only, without any representation or warranty of any kind, nor shall it be construed as financial or investment advice. KuCoin shall not be liable for any errors or omissions, or for any outcomes resulting from the use of this information.
Investments in digital assets can be risky. Please carefully evaluate the risks of a product and your risk tolerance based on your own financial circumstances. For more information, please refer to our Terms of Use and Risk Disclosure.