Grayscale has expanded its crypto investments with the launch of a new product focused on decentralized artificial intelligence (AI). The Grayscale Decentralized AI Fund is designed to target accredited investors seeking investment opportunities in the AI and blockchain technology development.
Launched on April 21, the fund provides access to native tokens taken from top AI-oriented crypto projects, like NEAR Protocol, Bittensor (TAO), Render, Filecoin (FIL), and The Graph (GRT). Each token plays a different role in the decentralized AI ecosystem, ranging from computation networks to data storage and indexing.
At the launch, the fund revealed that it possessed over $1 million in assets under management, with shares trading at $4.82 per unit, gaining 14.22% on a single day. Further, Grayscale reported a total of 218,100 shares outstanding as of the latest update.
The fund’s largest allocation went to Bittensor’s TAO token, which made up 27.18%, followed by NEAR with a 24.54% share. Render held 22.75%, while Filecoin accounted for 17.26%. The smallest share of 8.27% went to The Graph.
Grayscale’s fund structure aims to remove barriers to directly holding digital assets. The Decentralized AI Fund allows investors to gain exposure to token performance without handling wallets or private keys. Instead, they can buy fund shares that reflect the performance of the selected tokens.Read more on CryptoTale
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