Grayscale Files to Convert Bittensor Trust into a TAO ETF

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Grayscale plans to convert its Bittensor Trust into a TAO ETF, part of a broader trend of altcoins gaining institutional attention. The firm filed an amended registration with the SEC on October 23, seeking to list GTAO on NYSE Arca. The ETF would provide exposure to TAO without requiring direct ownership of cryptocurrency. ETF inflows have surged as more firms pursue traditional market access for digital assets. Grayscale currently cannot stake TAO due to regulatory constraints.
CoinDesk reports:

Grayscale applies to convert the Bittensor Trust into a TAO ETF

Grayscale Investments has filed an amended registration statement with the U.S. Securities and Exchange Commission (SEC) to convert its Grayscale Bittensor Trust into an exchange-traded fund (ETF).

The document submitted on October 23 outlines the plan to list the fund shares on NYSE Arca under the ticker symbol GTAO, subject to approval by regulators and the exchange.

Currently, these shares trade on the OTCQX market.

The proposed ETF would allow investors to gain exposure to TAO through traditional brokerage accounts without directly holding the cryptocurrency.

Grayscale currently cannot stake the TAO held in this fund because the required regulatory conditions have not yet been met.

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