Grayscale has officially filed a Form 10 registration for the Bittensor ($TAO) Trust – a step that could expand institutional access to one of crypto’s most talked-about AI projects.
Community member Andy summarized the development, drawing comparisons with earlier Grayscale filings for Bitcoin and Ethereum. When Grayscale filed for BTC, it was trading around $300. Ethereum’s filing came when ETH was about $150. Both assets went on to achieve massive gains after becoming accessible to institutional investors.
Now, with TAO’s market cap near $4 billion, the same institutional framework is being put in place.
The Market Hasn’t Priced This In Yet$TAO market cap: $3.5B
— Andy ττ (@bittingthembits) October 12, 2025
When Grayscale filed for BTC: $300 price.
When they filed for ETH: $150 price.
Both went 100× after their filings, not because of hype, but because of institutional access.
What the Filing Literally Says:
“The Trust… https://t.co/kMnyvWz0me
What you'll learn 👉
What the Filing Means
The Form 10 submission is an important step in bringing $TAO under SEC reporting standards. It outlines plans for the trust to become an Exchange-Traded Product (ETP), similar to Grayscale’s existing Bitcoin and Ethereum funds.
The document notes that the trust’s shares will be quoted on OTC Markets, providing regulated secondary-market access. It also confirms that audited financial statements and 10-K/10-Q filings will be submitted to the SEC, which would improve transparency and compliance for larger investors.
Additionally, the filing reduces the required holding period from twelve months to six – a change that increases liquidity and could make TAO more attractive to funds that require faster capital rotation.
Read also: Bittensor (TAO) Nears 2x Rally as Price Enters Super Bullish Phase
Why Institutional Access Matters
Andy highlighted how institutional capital pools could impact TAO once a compliant path exists. Even small allocations from major categories like pension funds, endowments, hedge funds, and family offices could collectively represent tens of billions of dollars in potential inflows.
Form 10 provides a structure that allows these entities to participate in TAO through traditional, regulated channels – a milestone few projects in the AI and crypto space have achieved so far.
Timing and Market Context
The timing also aligns well with TAO’s broader fundamentals. The network’s first halving is scheduled for 2026, which will cut new token emissions by 50%. The AI infrastructure narrative continues to gain attention across both crypto and traditional finance, while TAO’s subnet ecosystem has surpassed $1 billion in combined market value.
With DeFi integrations expanding and Grayscale’s filing offering a route toward institutional participation, TAO now stands at a key inflection point between blockchain innovation and artificial intelligence adoption.
TAO is now trading around $410; an increase of nearly 30% in the past 24 hours as traders react to the Grayscale filing news. The sharp move shows growing confidence that institutional access could reshape TAO’s market profile over the coming months.
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