Grayscale Investments has taken another major step toward expanding its lineup of crypto investment products, this time spotlighting the AI-powered blockchain Bittensor (TAO). The company recently filed a Form 10 registration with the U.S. Securities and Exchange Commission (SEC) for its Grayscale Bittensor Trust (TAO), signaling its intent to make TAO more accessible and transparent for investors.
The filing seeks to reduce the private placement holding period from 12 months to six, allowing early investors quicker liquidity and paving the way for institutional participation. If approved, the trust will become an SEC-reporting entity under Section 12(g) of the Exchange Act — requiring regular filings like 10-Ks and 10-Qs. This would align Bittensor with established products such as Grayscale’s Bitcoin (GBTC), Ethereum (ETHE), and Solana trusts.
Once effective, Grayscale aims to list the Bittensor Trust shares on OTC Markets, a move that would enhance visibility and liquidity. More importantly, it positions TAO a step closer to becoming a fully-fledged exchange-traded product (ETP), potentially inviting a surge of institutional and retail investors. Bittensor already dominates the DePIN (Decentralized Physical Infrastructure Network) sector, commanding around 33% of total market attention.
On the technical front, TAO’s price chart is forming a falling wedge pattern — typically a bullish reversal indicator. A confirmed breakout above $402.3, and especially beyond $499.6, could trigger a strong rally targeting a 236% upside, with potential to surpass its April 2024 all-time high of $1,248 and reach $1,353. With the RSI at 63 and bullish volume signals strengthening, momentum appears to be on TAO’s side.
However, if resistance persists and the price drops below $219.6, TAO could revisit lows near $130.3. Still, Grayscale’s strategic move may redefine Bittensor’s trajectory, potentially cementing it as the next major institutional-grade AI crypto asset.
