Core Insights - Grayscale Investments has identified Bittensor (CRYPTO: TAO) as a token that aligns with Nvidia CEO Jensen Huang's vision of utilizing excess energy for AI model transformation [1][2][3] Group 1: Bittensor and Its Functionality - Bittensor is a decentralized, blockchain-based machine-learning network that allows for the sharing, training, and ranking of AI models [3][4] - The protocol incentivizes participation and contribution by rewarding users with TAO tokens [4] Group 2: Grayscale's Involvement - Grayscale operates the Grayscale Bittensor Trust (OTCQX:GTAO) in over-the-counter markets and has filed an S-1 with the SEC to convert this trust into a spot exchange-traded fund [4] Group 3: Market Performance - As of the latest data, TAO is priced at $274.33, reflecting a 2.66% decrease over the past 24 hours and a significant 42% decline over the past year [5]

Grayscale filed with the US Securities and Exchange Commission (SEC) to list an exchange-traded product (ETP) for Bittensor’s TAO token on NYSE Arca under the ticker GTAO. TAO traded around $222 at the time of the filing, after a strong year of AI‑crypto interest and Bittensor’s first halving. This move drops AI‑crypto directly into the regulated Wall Street conversation, not just crypto Twitter. What Exactly Did Grayscale File, and Why Should Beginners Care? An ETP is a traditional stock‑market produc ...

Core Insights - Grayscale has submitted a Form S-1 registration statement to the U.S. SEC for the Grayscale Bittensor Trust (TAO), which will be renamed to Grayscale Bittensor Trust ETF upon registration effectiveness and listing on NYSE Arca [1] Company Developments - The sole asset of the trust will be the native token TAO of the Bittensor Network [1] Market Signals - A MACD golden cross signal has formed, indicating positive momentum for certain stocks [1]

Group 1 - Grayscale has submitted a Form S-1 registration statement to the U.S. SEC for the Grayscale Bittensor Trust (TAO) [1] - The product is intended to be renamed to Grayscale Bittensor Trust ETF upon registration effectiveness and listing on NYSE Arca [1] - The sole asset of the trust is the native token TAO of the Bittensor Network [1]

Core Viewpoint - Grayscale is seeking to provide U.S. investors with exposure to Bittensor's TAO through the first U.S.-listed exchange-traded product (ETP) focused on decentralized artificial intelligence [1][2][5] Group 1: Grayscale's Initiative - Grayscale has filed an initial S-1 registration statement with the U.S. Securities and Exchange Commission for the Grayscale Bittensor Trust, which is expected to trade under the ticker GTAO [2][3] - The proposed trust would hold TAO directly, allowing regulated access to one of the largest tokens in the decentralized AI space, with TAO's current market cap at approximately $2.3 billion [2][4] Group 2: Industry Context - Barry Silbert, chairman of Grayscale, highlighted the rapid evolution of decentralized AI and Grayscale's role in providing access to this emerging sector [3] - The filing represents the first ETP for TAO in the U.S., following a similar initiative by Deutsche Digital Assets to list a Bittensor ETP on the SIX Swiss Exchange under the ticker STAO [3][5] Group 3: Market Dynamics - Bittensor operates as an open network that incentivizes machine learning development through crypto-economic rewards, attracting interest from investors looking for AI-related crypto assets beyond traditional platforms [4] - The filing indicates a growing trend among asset managers to create regulated investment products around emerging crypto narratives, reflecting an increasing institutional interest in decentralized AI [5]

Core Viewpoint - Grayscale is seeking to convert its GTAO fund into the first Bittensor ETF, which will expand its crypto ETF offerings and provide institutional investors with 100% spot exposure to the AI token, TAO [1][2][7] Group 1: ETF Conversion and Listing - Grayscale has filed a Form S-1 with the SEC to convert its Bittensor Trust into an ETF, aiming to list the fund on NYSE Arca under the ticker 'GTAO' [2][7] - The filing follows the Bittensor network's first halving event, which reduced daily token issuance from 7,200 to 3,600, potentially boosting the price of TAO [2] Group 2: Fund Structure and Management - The Bittensor ETF will hold the AI crypto coin, including tokens earned from staking, as Grayscale plans to implement staking [3] - Bank of New York Mellon is listed as the transfer agent, with Coinbase as the prime broker and custodian, alongside BitGo as an additional custodian [3] Group 3: Regulatory Approval and Trading - NYSE Arca has received regulatory approval for the Trust to conduct creations and redemptions of Shares via in-kind transactions with Authorized Participants in exchange for TAO [4] - The Grayscale Bittensor Trust began trading on the OTCQX under the ticker symbol "GTAO," following the effectiveness of its Form 10 filing with the SEC [5] Group 4: Reporting and Compliance - As an SEC reporting company, the Trust has a reduced holding period of six months, which will take effect after it has been a reporting company for at least 90 days [6]

The TAO App Campaign wraps up tomorrowThere’s still time! Buy or deposit US$50+ of $TAO to qualify for a US$10 $ETH reward 💠Only the top 2,000 users ranked by their TAO Net Gains will win 🏆Details and T&Cs 👇https://t.co/AHvGoVBgET@bittensor @taostats https://t.co/kvSYjw7TZI ...

Core Viewpoint - Bitcoin is being adopted by Wall Street, which contrasts with its original ethos, while Bittensor aims to decentralize AI services, positioning itself as a potential next-generation Bitcoin for the AI age despite a significant decline in value [1][2]. Group 1: Bittensor's Position in the Market - Bittensor recently completed a reward halving on December 15, reducing its supply of minted coins, which is a common narrative in the cryptocurrency space [2]. - The cryptocurrency market has seen many projects claiming to be "the next Bitcoin," but Bittensor may hold real long-term value despite facing challenges typical of ambitious crypto projects [2]. Group 2: Comparison with Bitcoin - The narrative surrounding Bittensor mirrors that of Bitcoin, where new networks challenge established incumbents, suggesting a potential shift in the current order [3]. - The phrase "long Bitcoin, short the banks" has been popular among influencers, although Bitcoin is now integrated into Wall Street banks and publicly traded stocks [3]. Group 3: Concerns About Centralization - There are growing concerns regarding the dominance of AI companies like OpenAI and Anthropic, which some view as too powerful and potentially threatening [4]. - Bittensor's goal is to decentralize AI workloads, moving away from traditional proof-of-work models to focus on real-use AI applications [5]. Group 4: Technological Mechanism - Bittensor utilizes a mechanism similar to Bitcoin's, coordinating a global network of hardware to secure a ledger, but redirects computational power towards training and running AI models [6]. - Yuma, a major backer of Bittensor, emphasizes the direct benefits of this approach in today's world, highlighting the potential for practical applications in AI [6].

Core Insights - Oracle Corporation reported disappointing quarterly results with a revenue of $16.1 billion, falling short of the estimated $16.21 billion [3] - The company's shares dropped nearly 14% to $192.12 following the earnings report, raising concerns about a potential bubble in AI infrastructure [4] - The decline in Oracle's stock also negatively impacted cryptocurrencies linked to decentralized AI projects [1][5] Financial Performance - Oracle's revenue for the three months ending in November was $16.1 billion, which was lower than market expectations [3] - The company had previously raised $18 billion in a significant debt issuance and entered a $300 billion deal with OpenAI [3] Market Reaction - Following the earnings report, Oracle's shares fell nearly 14%, indicating investor disappointment and anxiety regarding AI investments [4] - The weak performance in Oracle's cloud sales is expected to have broader implications for the AI sector [4] Cryptocurrency Impact - Decentralized AI tokens experienced a decline in value after Oracle's disappointing results, reflecting the interconnectedness of traditional tech stocks and crypto markets [5] - Specific AI tokens such as TAO, NEAR, ICP, FIL, and RENDER saw significant drops in their trading values, with declines ranging from 3.89% to 8.5% [6][7]

GTAO Becomes the First Publicly Quoted U.S. Investment Product Offering Exposure to TAO Token as the Network Prepares to Undergo Its First Halving EventSTAMFORD, Conn., Dec. 11, 2025 (GLOBE NEWSWIRE) -- Grayscale, the world's largest digital asset-focused investment platform*, today announced Grayscale® Bittensor Trust (the “Trust”) has begun trading on OTCQX®, a premier secondary U.S. market operated by OTC Markets Group Inc, under the ticker GTAO. The firm also announced that GTAO is now SEC reporting. Bi ...