Altcoins
Good news for TAO Coin and these 4 altcoins from the cryptocurrency giant: a new fund!
Institutional adoption of cryptocurrencies is in full swing. Institutional firms are expanding their horizons beyond Bitcoin. In this context, Bitcoin giant Grayscale has launched a new fund for five decentralized AI tokens, including TAO Coin.
Grayscale Launches Fund for TAO Coin & These 4 Altcoins!
How did you follow? Kriptokoin.comThe cryptocurrency space is increasingly becoming the focus of institutional firms. In a hot development, giant crypto asset manager Grayscale is launching a new fund focused on decentralized artificial intelligence. The Grayscale Decentralized AI Fund LLC, which will be rebalanced quarterly, aims to support AI-related investment efforts in the cryptocurrency space, according to a statement from officials.
At the time of today’s launch, the decentralized AI projects in the fund’s basket are Bittensor (TAO Coin), Filecoin (FIL), Peer alive (LPT), Near (NEAR), and Render (RNDR). Meanwhile, Near, Filecoin, and Render stand out as the fund’s most heavily weighted assets, respectively. The fund will focus on funding projects in three areas, the statement said. These are: chatbots, generative imaging, and other decentralized uses of AI; tackling centralized AI problems like deep fakes, disinformation, and bot verification; and AI-related infrastructure like GPU computing, data storage, decentralized marketplaces, and other services.
“Grayscale creates exciting opportunities for its investors!”
by Rayhaneh Sharif-Askary, Greyscale Head of Product and Research, said: “The rise of disruptive technologies has created compelling opportunities for Grayscale investors since our founding in 2013. We also believe the launch of the Grayscale Decentralized AI Fund provides an opportunity to invest in early-stage decentralized AI.” The Head of Research also released the following statement:
BlockchainAI-based AI protocols embody the principles of decentralization, accessibility, and transparency, and the Grayscale team believes these protocols can help mitigate the fundamental risks associated with the proliferation of AI technology.
The asset manager has previously launched a trust focused on NEAR
Greyscale launched a NEAR-focused trust in May this year to provide investors with diversified exposure to cryptocurrencies. At the time of writing, NEAR was trading at $6.16, up 0.082% over the past 24 hours.
According to the latest data, the cryptocurrency operator Bitcoin Spot ETFs Grayscale Bitcoin Trust is the second-largest spot Bitcoin ETF behind BlackRock’s IBIT. GBTC manages $17.68 billion in assets as of July 16.
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