Grayscale raises TAO exposure from 31% to 43% in latest rebalance – Here’s why
Grayscale has significantly increased its exposure to Bittensor (TAO) in its AI-focused cryptocurrency portfolio, raising TAO's allocation from 31.35% to 43.06% in its latest rebalancing. This move highlights a strong vote of confidence in the AI token, as no other assets were added or removed from the fund. Other holdings like NEAR, FIL, GRT, and IP saw reduced weights, while RENDER posted a slight increase.
The growing subnet economy within the Bittensor ecosystem—comprising 128 independent AI-focused networks—strengthens its utility narrative. For instance, Targon Compute, one of its subnets, reportedly generated $105,000 in revenue over the past week, indicating strong growth potential.
At the time of writing, TAO was trading at $321.74, up 3.70% daily, with its mid-March uptrend still intact. However, it faces consolidation near the $330–$360 resistance zone. While the RSI suggests bullish momentum, the MACD shows signs of weakness.
Grayscale has also filed with the SEC for a Bittensor-based investment product, proposing a trust that would hold TAO directly and potentially convert into an ETF if approved.
ambcrypto04/07 08:10
