Grayscale Files Form S-1 as Bittensor Trust Begins Public Trading on OTCQX

On December 11, 2025, Grayscale's Bittensor Trust began trading on OTC Markets, marking its transition to an SEC-reporting entity via a voluntary Form 10-12G filing. The firm has now filed a Form S-1 to support public market access to TAO, offering U.S. investors the first publicly quoted exposure to Bittensor and its decentralized AI network. As of December 30, 2025, TAO traded at $219.92 with a market cap of 2.32 billion, reflecting growing interest in decentralized intelligence infrastructure.