12-10-2025 – Grayscale Investments has filed a Form 10 with the U.S. Securities and Exchange Commission (SEC) for its Grayscale Bittensor Trust (TAO), marking the first step toward making the product a reporting company. The filing, announced Friday, signals the firm’s intent to enhance transparency and regulatory oversight while paving the way for broader investor access.
If approved, the move would allow Grayscale to seek public quotation of TAO Trust shares on the over-the-counter (OTC) market. The transition would also shorten the private placement holding period from 12 months to six months—an important step in improving liquidity for institutional and accredited investors.
The Bittensor Trust, which provides exposure to the decentralized AI network Bittensor (TAO), is part of Grayscale’s broader strategy to expand its lineup of digital asset investment products beyond Bitcoin and Ethereum. By filing Form 10, the company brings the trust closer to becoming a fully exchange-traded product (ETP), subject to SEC reporting requirements under the Securities Exchange Act of 1934.
