Grayscale Files Registration for Bittensor ETP

Digital asset administration firm Grayscale Investments has filed to record and commerce shares of an exchange-traded product (ETP) tied to Bittensor’s native token, TAO.

In a Tuesday submitting with the US Securities and Alternate Fee, Grayscale filed an S-1 registration assertion for shares of its Bittensor Belief (TAO). The submitting got here greater than a yr after the asset supervisor introduced the TAO trust and indicators Grayscale’s transfer to transition its over-the-counter TAO product to NYSE Arca.

The submitting is topic to SEC evaluation earlier than itemizing below the ticker GTAO. The SEC has green-lit a number of exchange-traded fund choices from Grayscale tied to cryptocurrencies, together with these for Bitcoin (BTC) and Ether (ETH).

Grayscale’s proposed TAO funding car happened two weeks after Bittensor went through its first halving event in December as a part of a plan to succeed in a 21 million token provide cap, the identical as Bitcoin. In line with data from Nansen, the worth of TAO was $222.54 on the time of publication.

Associated: SEC approves conversion of Grayscale’s large-cap crypto fund into ETF

Bittensor, a decentralized, open-source machine-learning community for AI providers, first launched in 2021 below the identify Kusanagi. Like many cryptocurrencies, the community’s TAO (TAO) token skilled important volatility in 2025, reaching an annual excessive of greater than $560 in January earlier than dropping to about $220 in April.

Grayscale is eyeing US IPO in 2026

In November, Grayscale filed with the SEC to record shares of its Class A typical inventory on the New York Inventory Alternate below the ticker image GRAY. The preliminary public providing, which has not superior for the reason that submitting, would put the asset supervisor amongst many different crypto firms, together with Coinbase and Gemini.