Grayscale has filed a registration statement with the Securities and Exchange Commission to convert its Grayscale Bittensor Trust into an exchange-traded fund, marking the first attempt to launch a U.S. spot ETF offering direct exposure to Bittensor’s native token, TAO. The proposed ETF would trade on NYSE Arca under the ticker GTAO, according to the filing submitted Tuesday. The move comes just weeks after Bittensor completed its first halving event, cutting the rate at which new TAO tokens are issued. While the trust has existed in private form since 2024, it only became publicly quoted earlier this month. The ETF ... (full story)