Breaking: Grayscale Launches New Fund For AI Coins

Highlights

Grayscale unveils new fund for AI coins.
The fund offers investors shares that consist of vital fund components.
One share in Grayscale's new fund reflects value of five AI coins collectively.

Grayscale, a leading crypto asset manager, has recently made global headlines by revealing its new fund for AI coins, the Grayscale Decentralized AI Fund. According to an official statement by the firm today, July 17, the mover comes as a first-ever initiative that offers users an investment vehicle focused on securities tied to decentralized AI protocols.

Notably, the fund mitigates the need for users’ direct involvement with digital currencies, offering them a share to invest that consists of vital fund components. Here’s a brief report on the investment vehicle to better understand the development’s market implications.

Also Read: Grayscale, VanEck & Other Bitcoin ETF Bag Millions From Madden Securities

Grayscale Decentralized AI Fund

Amid the global rise in AI and related protocols, this mover by Grayscale appears to have gained significant traction across the market. In its official release today, the firm clarified that the AI coins fund offers a form of security to users, eradicating the challenges of directly buying, storing, and safekeeping digital currencies. This fund is called as the “Grayscale Decentralized AI Fund.”

Meanwhile, the vital components of this fund encompass five AI-based tokens. These include Near Protocol (NEAR), Filecoin (FIL), Render (RNDR), Livepeer (LPT), and Bittensor (TAO).

Intriguingly, the fund is designed to reflect the combined value of the abovementioned components. The weightage of the five tokens into one share of the fund equals NEAR – 32.99%; FIL – 30.59%; RNDR – 24.86%; LPT – 8.64%; and TAO – 2.92%.

Also, it’s worth mentioning that the NAV (Net Asset Value) per share as of July 16 totaled $9.97. This mover, amid the recent popularity of AI coins, has promptly gained significant traction across the crypto industry.

Grayscale: Crypto Asset Manager Pioneer

Notably, the firm already appears to be marking monumental strides across the industry with its crypto offerings. The crypto asset manager stages as one of the first service providers of a spot Bitcoin BTF, while an ETH ETF also appears to be in the pipeline.

Additionally, tomorrow, July 18, presents as a vital date for the firm. As reported by CoinGape Media previously, the launch of the Grayscale Ethereum Mini trust shares is set to take place on the mentioned date.

Also Read: Grayscale CEO Says Spot Ethereum ETF Still On The Cards

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