Grayscale launches fund for TAO Coin and these 4 altcoins!

As you have been following on Kriptokoin.com, the cryptocurrency world is increasingly becoming the center of attention of institutional firms.

Institutional adoption of cryptocurrencies continues apace. Now, the institutional firm is expanding its horizons beyond Bitcoin (BTC). In this context, Bitcoin giant Grayscale has launched a new fund for five decentralized AI tokens, including TAO Coin (TAO).

Grayscale launches fund for TAO Coin and these 4 altcoins!

As you have been following on Kriptokoin.com, the cryptocurrency world is increasingly becoming the center of attention of institutional firms. In a hot development, giant crypto asset manager Grayscale is launching a new fund focused on decentralized artificial intelligence. The Grayscale Decentralized AI Fund LLC, which will rebalance quarterly, aims to support AI-related investment efforts in the cryptocurrency industry, according to a statement by officials.

As of today’s launch, the decentralized AI projects in the fund’s basket are Bittensor (TAO Coin), Filecoin (FIL), Livepeer (LPT), Near (NEAR) and Render (RNDR). Meanwhile, Near, Filecoin and Render stand out as the most weighted assets in the fund, respectively. The fund will focus on funding projects in three areas, the statement said. These are: chatbots, generative images and other decentralized uses of AI; addressing centralized AI problems such as deep fake, misinformation and verification of bots; and AI-related infrastructure such as GPU computing, data storage, decentralized marketplaces and other services.

“Grayscale creates attractive opportunities for its investors!”

Rayhaneh Sharif-Askary, Grayscale’s head of product and research, said: “The rise of disruptive technologies has created attractive opportunities for Grayscale’s investors since our founding in 2013. We also believe that the launch of the Grayscale Decentralized AI Fund provides an opportunity to invest in Decentralized AI at its earliest stage.” In addition, the research manager made the following statement:

“Blockchain-based AI protocols embody the principles of decentralization, accessibility and transparency, and the Grayscale team believes that these protocols can help mitigate the fundamental risks associated with the proliferation of AI technology.”

The asset manager previously launched a NEAR-focused trust

Grayscale launched a trust focused on NEAR in May this year to provide investors with diversified crypto exposure. At the time of writing, NEAR was trading at $6.16, up 0.082% in the last 24 hours.

According to the latest data, the crypto asset manager’s spot Bitcoin ETF Grayscale Bitcoin Trust is the second largest spot Bitcoin ETF behind BlackRock’s IBIT. GBTC manages $17.68 billion in assets as of July 16.

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