Grayscale submitted a preliminary application for the Bittensor Trust ETF to the U.S. SEC, with the code GTAO

According to Crowdfundinsider, Grayscale Investments has submitted a preliminary registration statement to the SEC, proposing to launch an exchange-traded product focused on Bittensor. The trust is coded as GTAO and aims to provide investors with the opportunity to directly invest in Bittensor's native token, TAO, through regulated channels.

The submitted S-1 filing marks the initial phase of converting the existing Grayscale Bittensor Trust into a spot ETF. If approved, GTAO will become the first ETP focused on TAO to be listed in the United States, allowing retail and institutional investors to gain investment exposure without directly holding the underlying crypto token.