Grayscale Investments has filed to list a new exchange-traded product tied to Bittensor’s token, TAO.
The filing, submitted to the US Securities and Exchange Commission on Tuesday, reflects Grayscale’s plan to transition its TAO trust from over-the-counter products to NYSE Arca.
SEC Process and Ticker Plans
The proposed product will trade under the ticker GTAO once it clears regulatory review.
Grayscale has already received SEC approval for cryptocurrency-based ETFs, including Bitcoin and Ether offerings.
The filing follows Bittensor’s recent halving event in December, which capped the network’s total token supply at 21 million.
At the time of the filing, TAO was trading around $222, having experienced significant volatility earlier in 2025.
Bittensor’s Evolution and Market Performance
Bittensor is a decentralized machine-learning network that launched in 2021 under the name Kusanagi.
Its TAO token spiked above $560 in January before settling near $220 by April.
The network continues to attract attention due to its focus on AI-driven blockchain services.
Grayscale IPO Ambitions
Grayscale also filed in November to list its Class A common stock on the NYSE under the symbol GRAY.
The IPO has not yet progressed, but would position the company among publicly traded crypto-focused firms such as Coinbase and Gemini.
Other US exchanges, like Kraken, have also sought IPOs recently, with valuations in the multi-billion-dollar range following private funding rounds.
Grayscale’s moves indicate a strategy to expand its regulated investment products while bringing niche crypto assets to a broader market.
