Key Takeaways
- Grayscale Investments has filed an S-1 registration statement with the SEC for Grayscale Bittensor Trust ETF.
- The Trust owns TAO, a digital asset of the Bittensor Network.
Leading asset manager Grayscale Investments has filed an S-1 registration with the SEC to convert its Bittensor Trust into an exchange-traded fund, according to an announcement Tuesday. If approved, it would become the first TAO ETP in the US.
Today we filed the first S-1 for Grayscale Bittensor Trust (ticker: $GTAO) with the @SECGov
This milestone is the next step in the conversion $GTAO to an ETP, which would make it the first $TAO ETP in the US and another first for grayscale.
Read the S-1:… pic.twitter.com/2qg6AgqYOg
— Grayscale (@Grayscale) December 30, 2025
The proposed fund would broaden Grayscale’s crypto ETF lineup, which already includes major assets such as Bitcoin, Ethereum, Solana, XRP, Dogecoin and Chainlink. The company is also awaiting final approval to launch additional funds tied to other leading crypto assets.
Grayscale rolled out the Grayscale Bittensor Trust alongside the Sui Trust last August. The company expressed confidence that Bittensor would become a key driver of decentralized AI development.
Grayscale plans to list the product on NYSE Arca under the GTAO ticker and rebrand it as an ETF-style vehicle. The trust seeks to reflect the value of TAO, but staking is prohibited unless future conditions are met.
TAO rose on the news, going from $219 to $222 in 30 minutes, according to Coin gecko.
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