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Grayscale Investments has taken steps toward listing a TAO-linked product on a US exchange.
The asset manager filed an S-1 registration statement with the US Securities and Exchange Commission.
The filing covers shares of the Grayscale Bittensor Trust.
The proposed product is tied to Bittensor’s native token, TAO.
The move signals Grayscale’s intent to transition the trust from over-the-counter trading.
Grayscale is seeking approval to list the product on NYSE Arca.
The shares would trade under the ticker symbol GTAO if approved.
The filing comes more than a year after Grayscale launched the TAO trust.
Regulatory approval is required before the product can begin trading.
Grayscale has previously received SEC approval for other crypto-linked exchange products.
Approved offerings include products tied to Bitcoin and Ether.
The proposed TAO product would be among the first of its kind in US markets.
Bittensor is a decentralised open-source network focused on machine learning and AI services.
The project originally launched in 2021 under the name Kusanagi.
Bittensor completed its first halving event in December.
The halving is part of a long-term plan to cap supply at 21 million tokens.
The supply cap mirrors Bitcoin’s fixed issuance model.
Market data showed TAO trading near $222 at the time of reporting.
The token experienced significant volatility throughout 2025.
TAO reached a yearly high above $560 in January.
Prices later fell sharply to around $220 in April.
Analysts said volatility reflected shifting sentiment toward AI-linked crypto assets.
Grayscale’s filing adds to growing institutional interest in niche digital assets.
The company has continued expanding its product range beyond major cryptocurrencies.
Grayscale has also been preparing for a potential public listing.
In November, the firm filed paperwork for a US initial public offering.
The proposed IPO would list Class A shares under the ticker GRAY.
The filing has not yet progressed to the next stage.
A public listing would place Grayscale alongside other crypto firms.
Coinbase and Gemini are already publicly visible US crypto companies.
Kraken also filed confidentially for an IPO in November.
Kraken was reportedly valued at $15 billion following a funding round.
Grayscale’s latest filing underscores ongoing efforts to broaden crypto access through regulated markets.
Observers say approval could increase exposure to AI-focused blockchain projects.
The outcome now rests with the SEC’s review process.
At the time of reporting, Bittensor price was $223.04.