Grayscale Recordsdata Registration for Bittensor ETP

Digital asset administration firm Grayscale Investments has filed to listing 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 Change 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 launched the TAO belief and alerts Grayscale’s transfer to transition its over-the-counter TAO product to NYSE Arca.

The submitting is topic to SEC evaluation earlier than itemizing beneath 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 automobile happened two weeks after Bittensor went by means of its first halving occasion in December as a part of a plan to succeed in a 21 million token provide cap, the identical as Bitcoin. In line with information 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 companies, first launched in 2021 beneath 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 listing shares of its Class A standard inventory on the New York Inventory Change beneath the ticker image GRAY. The preliminary public providing, which has not superior because the submitting, would put the asset supervisor amongst many different crypto firms, together with Coinbase and Gemini.