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Grayscale Investments, the world’s largest digital asset company, has announced the launch of the Grayscale Bittensor Trust, a fund designed to provide qualified investors with exposure to Bittensor ($TAO) in the form of securities.
By eliminating the hassle of directly purchasing, storing, and safeguarding $TAO, the Trust represents one of the first securities to invest solely in this decentralized machine learning protocol.
In a statement, Grayscale described the fund as a streamlined way for investors to engage with Bittensor’s ecosystem.
Bittensor is an open-source protocol that powers a decentralized, blockchain-based machine learning network. In this system, users collaborate to train machine learning models and are rewarded with $TAO tokens based on the value of the knowledge they provide to the collective.
$TAO also acts as a utility token that provides external access to the network, allowing users to obtain information and tailor their activities to specific needs.
$TAO price has lost 16% of its value in the last week and is trading 37% lower than its all-time high at the time of writing.
*This is not investment advice.