Grayscale files Form S-1 with SEC for Bittensor Trust GTAO ETP on December 30, 2025

On December 30, 2025, Grayscale filed a Form S-1 with the U.S. SEC to advance the Grayscale Bittensor Trust (ticker: GTAO) toward an exchange-traded product that, if approved, would be the first U.S. vehicle offering TAO exposure. TAO’s market cap stands at $2.3 billion with $72 million in 24-hour volume, and the token is 70% below its $767 all-time high.