Grayscale Launches New Fund For AI Coins

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 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.

Also Read: Grayscale Announces Distribution Date for ‘Mini’ Ethereum ETF Shares

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