Bitwise and Grayscale Files for Bittensor ETF With SEC: Is TAO Ready for Rebound?

The demand for Bittensor (TAO) is seeing a significant rise, especially in the institutional sector, as artificial intelligence (AI) continues to gain prominence. Recently, both Grayscale Investments and Bitwise filed with the United States Securities and Exchange Commission (SEC) to introduce spot TAO exchange-traded funds (ETFs). This move comes as a response to the growing interest in AI-related products globally.

Bitwise Investments has filed to offer 11 spot crypto ETFs, including the Bitwise TAO Strategy ETF, which will allocate 60% of its funds to TAO and the remaining to an ETP directly invested in TAO. On the other hand, Grayscale Investments filed an S-1 to convert its Grayscale Bittensor Trust into an ETF traded on NYSE under the ticker GTAO. Currently, the Grayscale Bittensor Trust holds $7.9 million in assets under management.

The surge in demand for TAO can be attributed to the recent halving of inflation in the Bittensor network, where the TAO token serves as the ecosystem’s fuel for rewarding miners and validators. With numerous AI projects running on the Bittensor network, the TAO coin has reached a market cap of approximately $2.3 billion.

Following the strategic filings for spot TAO ETFs, the TAO price experienced a 1.1% surge, reaching around $221 during the late North American session. Technical analysts predict a bullish trend for TAO, with the price expected to triple and potentially hit $700 in 2026. This optimism is supported by the coin’s consistent retesting of the current demand zone over the past two years.

Overall, the introduction of TAO ETFs is seen as a positive development for the altcoin, signaling increased institutional interest and potentially driving further price growth in the future. Investors and enthusiasts will be closely monitoring the market to see how TAO performs in the coming months.