According to @CoinMarketCap, Grayscale Investments has filed with the U.S. SEC to launch the Grayscale Bittensor Trust, which would be the first U.S. exchange-traded product offering exposure to Bittensor’s TAO and is proposed to trade on NYSE Arca if approved (source: @CoinMarketCap). SEC approval requires an exchange rule change for NYSE Arca under Exchange Act Section 19(b) and an effective registration statement, with statutory deadlines that can extend up to 240 days from publication in the Federal Register (source: U.S. SEC). If approved, an NYSE Arca-listed ETP would provide regulated brokerage access to TAO exposure via exchange-traded shares, with listing eligibility and start-of-trading governed by SEC and exchange procedures (source: NYSE Arca; U.S. SEC).

According to the source, Grayscale has submitted a Form 10 to register shares of its Bittensor Trust (TAO) with the U.S. Securities and Exchange Commission, which starts a standard 60-day effectiveness clock under the Exchange Act for Form 10 registrations. source: U.S. SEC If the registration becomes effective, the trust becomes an SEC reporting company required to file 10-K, 10-Q, and 8-K reports, increasing transparency for monitoring TAO-related trust activity and potential flow dynamics. source: U.S. SEC Form 10 registration does not create an ETF and does not itself secure an exchange listing; any secondary trading typically occurs on OTC venues subject to DTC eligibility and market-maker filings. source: OTC Markets; U.S. SEC Action for traders: verify the Form 10 on SEC EDGAR, monitor for DTC eligibility and any OTC ticker assignment, and track TAO spot-liquidity and basis across exchanges to gauge potential secondary-market liquidity impacts if the registration becomes effective. source: SEC EDGAR; OTC Markets