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.