Grayscale Increases TAO Allocation, Driving 106% Surge to $4.79 Billion Market Cap

Oct 15, 2024, 06:40 AM

Grayscale has significantly increased its allocation to Bittensor (TAO) in its decentralized AI fund, raising the weight from 2% to over 30% within a few months. This move has contributed to a surge in TAO's value, which has risen by 106% in the past 30 days. The increase in value is also driven by Nvidia's stock rally and institutional investments. As a result, TAO's market cap has reached $4.79 billion. Grayscale Bittensor Trust is now open to eligible accredited investors in the US, providing one of the only ways to gain exposure to TAO at NAV.