Overview
- Grayscale submitted an initial S-1 on December 30 seeking to list shares of its Bittensor Trust on NYSE Arca under the ticker GTAO as an exchange-traded product.
- The trust holds TAO, the native token of the Bittensor decentralized machine-learning network, offering exchange-traded exposure without direct token custody.
- Grayscale says approval would make GTAO the first U.S. exchange-traded product providing access to TAO.
- The filing follows Bittensor’s December halving that reduced TAO issuance as part of a plan to cap supply at 21 million.
- The move aligns with Grayscale’s expanding crypto ETP lineup and its separate IPO filing targeting a 2026 NYSE listing under the ticker GRAY.