Grayscale Launches Artificial Intelligence-Focused Crypto Fund; AI Tokens Gain
Grayscale, the investment firm known for its large spot bitcoin ETFs, has launched a new digital asset fund called the Grayscale Decentralized AI Fund. This fund is available to accredited investors and aims to capitalize on the growth of protocols that combine blockchain and artificial intelligence. The fund's initial investments are in the native tokens of crypto AI protocols Bittensor, Filecoin, Livepeer, Near, and Render, with plans to rebalance its holdings every quarter. Following the announcement, the prices of these tokens increased by 1%-3%. Grayscale believes that these blockchain-based AI protocols can help reduce the risks associated with the increasing use of AI technology due to their principles of decentralization, accessibility, and transparency.
