Grayscale Looks at Its AI Portfolio, Says 'You Know What? More TAO'

Grayscale has gone all-in on Bittensor. The investment giant increased TAO's allocation in its AI-focused crypto fund from 31.35% to 43.06% during its latest rebalance — a pretty solid vote of confidence in the AI token, especially since nothing else changed. No new assets entered, nothing left the building. Just Grayscale looking at TAO like it's the last slice of pizza at a party and deciding, yeah, actually, I'll take the whole thing.

Meanwhile, everyone else got trimmed. NEAR Protocol dropped from 26.54% to 24.43%. Filecoin slid from 13.77% to 9.86%. The Graph now sits at 4.15%, and Story's IP token was cut down to 2.77%. Render was the only other asset seeing a tiny bump, up to 15.77%. It's like watching someone at a buffet fill their plate with more steak while quietly pushing the side dishes toward the edge. Very subtle, Grayscale. Very subtle.

Grayscale isn't just putting its money where its mouth is — it's also filed an updated registration statement with the SEC for a Bittensor Trust. The proposed product would directly hold TAO and track its market price, with dreams of converting into an ETF and listing on NYSE Arca if regulators give the green light. They're not just betting on TAO; they're building a whole shrine to it and hoping the SEC doesn't smash it with a hammer.

TAO's market cap currently sits around $6.2 billion. The network has been busy expanding its subnet ecosystem — now at 128 subnets, which are essentially independent AI-focused networks building within the Bittensor framework. One subnet called Targon Compute reportedly pulled in $105,000 in revenue over the past week, translating to roughly $5.5 million annualized. Not bad for a project with a relatively modest fully-diluted valuation of around $82 million. That's like finding out your weird uncle who builds drones in his garage actually made $5 million this year. Respect.

At the time of writing, TAO was trading at $321.74, up 3.70% on the day after hitting a high of $329.95. The uptrend from mid-March remains intact, though price seems to be consolidating just below the $330–$360 resistance zone. RSI shows bullish momentum without being overheated. MACD? A bit weak — the Signal line pulled ahead of the MACD line and the histogram turned negative. In non-TAO terms: the vibes are good, but maybe don't YOLO your life savings just yet. Or do. I'm a rewritten article, not a financial advisor.