Grayscale Investments is making a significant move in the cryptocurrency space by filing an S-1 registration statement with the US Securities and Exchange Commission. The firm aims to convert its Grayscale Bittensor Trust into a spot ETF, which could reshape how investors access Bittensor's native token, TAO. According to the results published in the material, this transition could open new avenues for institutional investment in the crypto market.
Proposed ETF and Bittensor's Halving Event
The proposed ETF will be listed under the ticker GTAO and comes on the heels of Bittensor's recent halving event, which has halved the daily issuance of TAO tokens. This reduction has sparked increased interest among traders, pushing the price of TAO above $220, with many speculating that it could reach $300 by early January 2026.
Potential SEC Approval and Market Impact
If the SEC approves the conversion, the Grayscale Bittensor Trust will trade on NYSE Arca, marking a pivotal moment for investors seeking regulated exposure to TAO. This development not only highlights Grayscale's commitment to expanding its product offerings but also reflects the growing institutional interest in cryptocurrency assets.
Grayscale Investments has recently announced plans to list the Grayscale Bittensor Trust on NYSE Arca, a significant step following its previous filing to convert the trust into a spot ETF. For more details, see read more.
