Grayscale raised the weight of Bittensor (TAO) in its AI-focused crypto fund from 31.35% to 43.06% during a quarterly rebalance, a move that followed the firm's recent filing for a dedicated Bittensor ETF with the U.S. Securities and Exchange Commission.
Grayscale Rebalance Details
The increase made TAO the dominant holding in the portfolio by a wide margin. No new assets were added or removed, leaving the fund's composition otherwise intact.
NEAR Protocol (NEAR) declined to 24.43% from 26.54%. Filecoin (FIL) dropped to 9.86% from 13.77%, while The Graph (GRT) fell to 4.15% and Story (IP) was trimmed to 2.73%. Render (RENDER) was the only other asset to gain ground, rising slightly to 15.77%.
Grayscale has also filed an updated registration statement with the SEC for a standalone Bittensor investment product.
The proposed Grayscale Bittensor Trust would hold TAO directly and track its market price, with plans to convert into an ETF and list on NYSE Arca if regulators approve.
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TAO Network Growth
Bittensor's network has expanded to 128 subnets — independent, AI-focused networks that function as open-source startups building within the protocol's framework.
The token carries a market capitalization of roughly $6.2 billion.
One subnet, Targon Compute, reportedly generated $105,000 in revenue over the past week. That translates to an annualized run rate of approximately $5.5 million, a notable figure given its relatively modest fully diluted valuation of about $82 million.
TAO Price Outlook
At the time of writing, TAO traded at $313.82, up 3.1% on the day after touching a high of $329.95. The uptrend from mid-March remained intact, though price action appeared to consolidate just below the $330–$360 resistance zone.
The relative strength index showed bullish momentum without entering overheated territory. However, the MACD signaled weakness, with the signal line pulling ahead and the histogram turning negative.
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