Overview
- Grayscale filed a Form 10 for its Bittensor Trust and said it intends to seek quotation on OTC Markets, while noting the trust is not an exchange-traded product.
- If the SEC declares the filing effective, the trust would register under Section 12(g) and begin filing 10-K, 10-Q and 8-K reports with audited financials.
- Effectiveness and a subsequent reporting period could shorten private-placement holding periods from 12 months to 6 months, improving secondary-market liquidity.
- TAO jumped roughly 32–33% following the news, broke above key resistance near $405, and traded as high as about $475, with some analysts flagging $443–$500 as near-term targets contingent on confirmation.
- Coverage also cites reported institutional accumulation since July and the launch of a Virtual TAO liquid-staked token bridged to EVM chains as additional factors supporting interest in the ecosystem.