Grayscale Investments has announced the launch of the Grayscale Decentralized AI Fund, aimed at providing exposure to blockchain-based artificial intelligence (AI) protocols. The fund, available to accredited investors, includes a basket of decentralized AI crypto protocols, rebalanced quarterly.
Grayscale Launches Decentralized Crypto AI Fund for Accredited Investors
This article was published more than a year ago. Some information may no longer be current.
WRITTEN BY
SHARE
Grayscale Introduces a Crypto AI Exchange-Traded Product
The Grayscale Decentralized AI Fund is designed to offer accredited investors a way to capture the growth of AI protocols within the crypto ecosystem. As of July 17, 2024, the fund includes bittensor (TAO) – 2.92%, filecoin (FIL) – 30.59%, livepeer (LPT) – 8.64%, near (NEAR) – 32.99%, and render (RNDR) – 24.86%, each weighted differently to balance risk and potential returns.
This initiative Grayscale said, reflects the firm’s ongoing strategy to leverage disruptive technologies, which they believe can mitigate risks emerging alongside AI advancements. “I’m quite excited about this new Grayscale AI fund,” Barry Silbert the founder and CEO of Digital Currency Group, Grayscale’s parent company, stated on X.
Decentralized AI protocols aim to counter the centralization of AI development dominated by a few large companies. By leveraging blockchain technology, these protocols distribute ownership and governance, increase transparency, and enable permissionless access to AI services. The fund targets three primary areas: AI services, solutions to centralized AI-related problems, and infrastructure critical to AI development.
Grayscale’s net asset value (NAV) per share on July 17, 2024, is $9.87, with 55,300 shares outstanding. The AI-related fund holds approximately $551,238.97 in value, according to Grayscale’s disclosure on Wednesday afternoon. Each share represents 0.52782725 NEAR, 0.66718612 FIL, 0.37947447 RNDR, 0.05531629 LPT, and 0.00095611 TAO.
What do you think about the new Grayscale Decentralized AI fund? Share your thoughts and opinions about this subject in the comments section below.
