In Brief
- •Grayscale aims to publicly quote $TAO Trust shares on OTC Markets for broader access.
- •Filing reduces private placement holding from 12 to 6 months after reporting begins.
- •Technicals show $TAO forming a bullish wedge with breakout potential toward $500+.
Grayscale has submitted a Form 10 for its Bittensor Trust ($TAO), marking its first step toward becoming SEC‑reporting. This filing aims to improve regulatory standing, enhance transparency, and increase the Trust’s accessibility to a broader investor base.
The company plans to register the Trust under Section 12(g) of the Exchange Act and quote it publicly on OTC Markets. This move aligns with Grayscale's strategy used for other digital asset products under its management.
The Trust will begin filing mandatory disclosures like 10‑Ks, 10‑Qs, and 8‑Ks once the registration becomes effective. This change would allow investors to access regular financial and operational updates, aligning with public company standards.
If the registration becomes effective, the holding period for private placement shares will drop from 12 months to six. This reduction could increase liquidity and make it easier for investors to access TAO shares sooner.
Grayscale clarified that the Trust is not applying to become an exchange‑traded product (ETP) at this stage. However, the company stated it may pursue ETP status in the future if listing requirements are met.
Currently, the Trust does not meet Generic Listing Standards for Commodity‑Based Trust Shares on national securities exchanges. Despite this, the new filing positions TAO one step closer to potential listing as an ETP.
Technical Outlook Signals Bullish Possibilities Amid Regulatory Progress
At press time, TAO traded around $313.72, down 4.57% in 24 hours and 3.92% over seven days. Despite short‑term weakness, analysts note accumulation is underway and a breakout may be forming.
The price recently hit a high of $331.5 and dropped to a low near $275, indicating consolidation. A descending wedge pattern on the chart suggests bullish pressure may soon push the price upward.
The 50‑day moving average stands at $328.7, while the 200‑day sits higher at $349.6, both near resistance levels. A confirmed breakout above $350 could trigger a price surge, with targets ranging from $450 to $550.
If technical signals align with growing regulatory clarity, investor confidence may rise in both retail and institutional segments. Overall, Grayscale’s filing strengthens TAO’s long‑term positioning in the digital asset space.