Long-Awaited Spot ETF Application Filed for Surprise Altcoin

Grayscale, the largest digital asset management company, has filed with the SEC to launch a spot Bittensor (TAO) ETF following the first halving on the Bittensor network.

The company has filed a registration statement with the SEC requesting that Grayscale Bittensor Trust (TAO) be converted into an exchange-traded fund. This move marks the first spot ETF initiative in the US to offer direct exposure to Bittensor.

A Grayscale spokesperson stated that they are continuing to expand their product portfolio for investors, adding, “We are pleased to take this early step to meet the growing demand for digital assets from investors and to enhance our product platform.”

Grayscale Bittensor Trust, which has had private status since 2024, was opened to a wider investor base through a public listing earlier this month. According to the filing, the planned Grayscale Bittensor ETF will trade on the NYSE Arca under the ticker symbol GTAO. Coinbase Custody Trust Company and BitGo Trust Company will handle the fund’s custody services.

TAO is the native token of the Bittensor network. Built on an AI-focused blockchain, Bittensor supports application-specific subnets. Contributors earn TAO by providing computational resources that improve and support AI-based systems.