Grayscale opens decentralized AI funds to investors, pushing deeper into the AI-crypto space and expanding its footprint in emerging tech sectors.
Grayscale is intensifying its efforts to dominate the AI cryptocurrency sector.
The asset manager has officially launched its Decentralized AI fund for investors. This fund consists of AI cryptocurrencies: RENDER, TAO, NEAR, FIL, and GRT.
Grayscale Introduces Decentralized AI Fund For Qualified Investors
The asset manager said in an X post that the Decentralized AI Fund is now accessible to qualified accredited investors.
Grayscale indicated that this fund provides investors diverse exposure to the convergence of AI and cryptocurrency through its holdings of AI coins.
As of May 29, this closed-end fund trades at a net asset value of $5.64 per share.
According to CoinGape, Grayscale first announced this AI fund by launching their “AI Crypto Sector,” which includes decentralized AI initiatives.
Asset management emphasized that this industry experienced a 4.5-fold increase.
The company indicated that the AI Fund is among the first investment vehicles to invest in and extract value from the values of native tokens of decentralized protocols.
The shares will represent the values of the Fund components, determined by their respective Digital Asset reference rates and weightings, minus fees.
Bittensor (TAO) constitutes the most significant portion of the fund at 30.89%. Currently, Near Protocol (NEAR), Render (RENDER), Filecoin (FIL), and The Graph (GRT) constitute 25.86%, 18.91%, 15.39%, and 8.95% of the fund, respectively.
Performance Of These Coins Since Their Introduction
The TAO price surged to a peak of $475 when Grayscale announced the Decentralized AI Fund two days prior.
The AI coin has now adjusted to approximately $400 as part of a wider cryptocurrency correction.
The NEAR price soared to about $3 following the fund’s inception.
The FIL and GRT prices exhibited substantial increases.
Nonetheless, these AI cryptocurrencies have experienced a correction in tandem with the Bitcoin price after the current downturn in the ongoing US-China trade spat.
