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Bitcoin ETF Giant Grayscale Launches Crypto Artificial Intelligence (AI) Fund; NEAR, RNDR, FIL, TAO, LPT Prices Surge
Grayscale, the investment firm behind one of the largest spot bitcoin ETFs (GBTC), has introduced A new digital asset fund investing in artificial intelligence (AI)-focused tokens launched on Wednesday.
The Grayscale Decentralized AI Fund is open to accredited investors and “is designed to capture the growth of protocols at the intersection of blockchain and AI,” the company said.
The fund initially invested in the native tokens of cryptographic AI protocols Bittensor (TAO), Filecoin (FIL), Livepeer (LPT), Near (NEAR), and Render (RNDR) and will rebalance its holdings quarterly.
Tokens gained immediately after the announcement, with prices rising 1%-3% in the last hour, CoinGecko data Shows.
“Blockchain-based AI protocols embody the principles of decentralization, accessibility, and transparency, and the Grayscale team strongly believes that these protocols can help mitigate the fundamental risks that emerge with the proliferation of AI technology,” Rayhaneh Sharif-Askary, Grayscale’s head of product and research, said in the press release.