Grayscale Lists Bittensor Trust As TAO Halving Nears

Grayscale has opened public trading for its Bittensor Trust, giving U.S. investors regulated access to the $TAO token. The product, listed on the OTCQX under the ticker $GTAO, is the first publicly quoted investment vehicle in the United States that provides exposure to Bittensor’s native asset.

The trust had been available only through private placement since August 2024. Public quotation expands access to a wider investor base, although participation remains limited to accredited investors.

The listing also arrives at a pivotal moment for Bittensor. The network is preparing for its first halving on Dec. 14, an event that will reduce the creation rate of new TAO tokens.

Grayscale Extends Its Proven Playbook to TAO

Grayscale remains one of the most prominent providers of digital asset investment products, with a long history of bringing emerging cryptocurrencies into regulated market structures. The firm pioneered publicly quoted crypto investment vehicles through its Bitcoin Trust and later introduced one of the first publicly traded Ethereum investment products, executing a model that began with private placements and expanded into broader market access.

The launch of GTAO reflects this same playbook. By applying its established approach to Bittensor’s TAO token, Grayscale is extending a strategy that has already shaped institutional access to earlier generations of digital assets.

Grayscale positioned the listing as a step toward broader participation in decentralized artificial intelligence networks.

“With Grayscale Bittensor Trust now available on public markets, investors can access what we believe is a fundamental shift in how intelligence is created and shared,” said Rayhaneh Sharif-Askary, head of product and research at Grayscale. She described Bittensor as “the Internet of AI, an open ecosystem where collective intelligence can grow in a way that is transparent, decentralized, and fair.”

Bittensor co-founder Jacob Steeves also highlighted the importance of the milestone. “Wider market access marks an important milestone for Bittensor. It allows more investors to take part in the emergence of decentralized AI and supports the accelerating momentum we’re seeing across the ecosystem,” he said.

Halving Inbound

Bittensor is approaching a major supply event, with the network set to undergo its first halving on Dec. 14. The halving will reduce the rate at which new TAO tokens are created, a mechanism modeled on Bitcoin’s emission schedule. Like BTC, TAO’s supply is capped at 21 million, and the network’s issuance decreases roughly every four years.

The event has drawn heightened attention to the asset, as reduced emissions introduce increased scarcity for participants who earn TAO by contributing computational resources to the network’s AI-focused subnets.The timing has added significance to GTAO’s public debut, aligning the listing with one of the most anticipated milestones in Bittensor’s development.

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