Grayscale launches Bittensor Trust as TAO jumps nearly 10%

Beincrypto reports Bittensor’s TAO climbed nearly 10% on Tuesday after Grayscale launched the Grayscale Bittensor Trust (GTAO) on OTC Markets.

The move pushed TAO above $290 and lifted 24‑hour trading volume to more than $230 million. The trust offers regulated exposure to TAO without direct custody, though shares may trade at a premium or discount to net asset value, and it trades on OTC Markets under the ticker GTAO. Grayscale said GTAO aims to track TAO’s market price using the Coin Metrics Real‑Time Bittensor Reference Rate, minus fees and expenses; as of January 5 the trust reported a total expense ratio of 2.5% and a net asset value of $7.96 per share.

The rally followed Bittensor’s mid‑December halving, which cut daily TAO emissions by roughly 50%, reducing inflation and tightening supply dynamics. Separately, Grayscale has filed paperwork to convert the trust into a spot ETF, though approval timelines remain uncertain; with reduced issuance, rising staking activity and new regulated access points, markets are reassessing TAO’s longer‑term positioning.

Key Topics

Crypto, Bittensor, Tao, Grayscale, Gtao, Otc Markets