The native currencies of blockchain protocols with an AI focus, like Near (NEAR), Render (RNDR), Bittensor (TAO), Filecoin (FIL), and Livepeer (LPT), are included in the Grayscale Decentralised AI Fund.
A new digital asset fund that invests in tokens with an AI focus was unveiled on Wednesday by Grayscale, the investment company that created one of the biggest spot bitcoin ETFs (GBTC).
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Accessible to qualified investors, the Grayscale Decentralised AI Fund “was designed to capture the growth of protocols at the intersection of blockchain and artificial intelligence,” according to the company.
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The fund will adjust its holdings every quarter. Initially, it invested in the native tokens of the crypto AI protocols Bittensor (TAO), Filecoin (FIL), Livepeer (LPT), Near (NEAR), and Render (RNDR).
The announcement was met with quick gains for the tokens, as seen by an hourly price increase of 1%–3% according to CoinGecko data.
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Head of product and research at Grayscale Rayhaneh Sharif-Askary stated in the press release that “the blockchain-based AI protocols embody the principles of decentralization, accessibility, and transparency, and the Grayscale team feels strongly that these protocols can help mitigate the fundamental risks emerging alongside the proliferation of AI technology.”
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