gtao

According to Crowdfundinsider, Grayscale Investments has submitted a preliminary registration statement to the SEC, proposing to launch an exchange-traded product focused on Bittensor. The trust is coded as GTAO and aims to provide investors with the opportunity to directly invest in Bittensor's native token, TAO, through regulated channels.The submitted S-1 filing marks the initial phase of converting the existing Grayscale Bittensor Trust into a spot ETF. If approved, GTAO will become the first ETP focused on TAO to be listed in the United States, allowing retail and institutional investors to gain investment exposure without directly holding the underlying crypto token.

Grayscale officially announced the details of the Grayscale Bittensor Trust, with an initial TAO asset management scale of approximately $10,811,551, a fee rate of 2.5%, and a total of 1,881,500 shares outstanding.The product will be quoted on the OTC Markets Group platform, allowing investors to buy and sell at market-determined prices through most traditional brokerage accounts.

According to The Block, Grayscale's Grayscale Bittensor Trust has begun trading on the OTCQX, a secondary market operated by OTC Markets Group Inc., under the ticker symbol GTAO.The trust has remained private since its establishment in August 2024, meaning it will now be open to a broader range of investors through a public offering. Additionally, Bittensor is expected to undergo a halving on December 14, which will reduce the token issuance allocated to network participants, thereby increasing the scarcity of TAO.