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Grayscale Launches Decentralized AI Fund Targeting Exposure to Top AI Cryptocurrencies

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2024-07-18 14:26:39363browse

The fund will focus on AI areas such as chatbots and image generation, data storage, GPU computation and 3D rendering among others.

Grayscale Launches Decentralized AI Fund Targeting Exposure to Top AI Cryptocurrencies

Grayscale has launched a new fund that will offer investors exposure to the top cryptocurrencies in the artificial intelligence (AI) sector.

The Grayscale Decentralized AI Fund will focus on areas such as chatbots, image generation, data storage, GPU computation, and 3D rendering.

The fund will initially invest in Near Protocol (NEAR), Filecoin (FIL), Bittensor (TAO), Livepeer (LPT), and Render (RNDR).

Grayscale will rebalance the fund's holdings quarterly.

Grayscale, a leading digital currency asset manager, has announced the launch of the Grayscale Decentralized AI Fund, an investment vehicle that will provide exposure to the top cryptocurrencies in the burgeoning artificial intelligence (AI) sector.

The fund will offer investors a diversified way to gain access to the rapidly growing AI market.

According to Grayscale, the fund will primarily concentrate on decentralized AI protocols that contribute to the development of the Web3.AI ecosystem.

These protocols span a wide range of applications, including generative AI models, decentralized data marketplaces, and GPU computation networks.

The fund will also consider AI-related tokens in the areas of cloud computing, decentralized autonomous organizations (DAOs), and metaverse indexing.

Grayscale will initially allocate the fund's assets to the following tokens:

Near Protocol (NEAR) - 32.99%

Filecoin (FIL) - 30.59%

Bittensor (TAO) - 2.92%

Livepeer (LPT) - 8.64%

Render (RNDR) - 24.86%

The fund will be available to eligible accredited investors only. Grayscale will charge a management fee of 2% for the fund.

Grayscale's entry into the AI crypto market is poised to further propel the burgeoning ecosystem, which currently boasts a market capitalization of $30 billion.

Other prominent AI tokens include Internet Computer (ICP), Artificial Superintelligence Alliance (FET), and The Graph (GRT).

Additionally, Akash Network (AKT) and AIOZ Network (AIOZ) are noteworthy examples of decentralized AI projects.

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