The company would convert its existing TAO-based fund into an ETF.
Form s-10 has been submitted, the first step for the launch of a new product on the stock market.
Investment company Grayscale filed documents with the United States Securities and Exchange Commission (SEC) that pave the way to issue an exchange-traded fund (ETF) based on the cryptocurrency bittensor (TAO).
When presenting the S-10 formthe company begins the process so that the TAO fund, issued in August 2024 such as Bittensor Trust (and which trades on secondary markets), become a fund that reports to the SEC.
Therefore, if the regulator approves the request, the trust will assume detailed and audited periodic reporting obligations, such as quarterly 10-Q and annual 10-K reports, in addition to current 8-K reports.
This measure increases transparency and regulatory compliance by registering shares under Section 12(g) of the Securities Exchange Act of 1934, and reduces lock-up period for private placements from 12 to 6 months after 90 days of reporting.
Grayscale, with 12 years of experience in digital asset management, thus continues its proven strategy with products such as the Bitcoin Trust (GBTC) and the Ethereum Trust (ETHE), which went through similar steps before their conversion to an ETF in 2024.
Additionally, this regulatory development paves the way for the trust’s shares to be publicly traded on the OTC Markets within 60 to 90 days, once the Form S-10 becomes effective.
In this context, Grayscale included Bittensor in its list of crypto assets with the greatest growth potential in the second quarter of 2025, as reported by CriptoNoticias.