Grayscale Launches Decentralized AI Fund

Grayscale, the renowned investment firm known for its spot bitcoin ETF (GBTC), made an exciting announcement on Wednesday by introducing a cutting-edge digital asset fund focusing on artificial intelligence (AI) tokens.

The newly launched Grayscale Decentralized AI Fund is available for accredited investors and aims to capitalize on the growth potential of protocols at the convergence of blockchain technology and artificial intelligence. The company stated that the fund was meticulously crafted for this specific purpose.

At its inception, the fund has strategically invested in the native tokens of several crypto AI protocols, including Bittensor (TAO), Filecoin (FIL), Livepeer (LPT), Near (NEAR), and Render (RNDR). The fund’s holdings will be reviewed and adjusted on a quarterly basis to ensure optimal performance and alignment with market trends.

Following the announcement, the values of the AI tokens experienced an immediate surge, with prices showing a notable increase of 1% to 3% within the first hour, as reported by CoinGecko data.

Grayscale’s head of product and research, Rayhaneh Sharif-Askary, emphasized the significance of blockchain-based AI protocols in addressing key challenges associated with the expanding AI landscape. Sharif-Askary highlighted that these protocols embody core principles such as decentralization, accessibility, and transparency, which are crucial in mitigating risks arising from the rapid evolution of AI technology.