Grayscale Introduces Decentralized AI Fund for Crypto Investors
Grayscale, a prominent Bitcoin ETF issuer and crypto asset manager, has rolled out its latest offering – the Decentralized AI Fund. This new fund aims to provide investors with exposure to decentralized AI protocols within the cryptocurrency ecosystem. Through a quarterly rebalancing strategy, the Grayscale Decentralized AI Fund currently includes various decentralized AI crypto protocols, such as Bittensor (TAO), Filecoin (FIL), Livepeer (LPT), Near (NEAR), and Render (RNDR).
Grayscale’s Innovation in AI Investment
Rayhaneh Sharif-Askary, Head of Product & Research at Grayscale, expressed enthusiasm about the launch of the new artificial intelligence fund. Sharif-Askary highlighted the opportunities presented by disruptive technologies and emphasized that the Decentralized AI Fund allows investors to participate in the early stages of decentralized AI investment.
The emergence of disruptive technologies has created exciting prospects for Grayscale’s investors since our establishment in 2013. The launch of the Grayscale Decentralized AI Fund offers a chance to invest in Decentralized AI at its inception.
According to Sharif-Askary, blockchain-based AI protocols align with the principles of decentralization, accessibility, and transparency, addressing concerns related to the widespread adoption of AI technology.
The Decentralized AI Fund by Grayscale is structured around the following three categories of decentralized AI assets:
– Protocols developing decentralized AI services like chatbots and image generation
– Protocols providing solutions to centralized AI issues like authentication checks and misinformation
– Infrastructure supporting AI technology development, including decentralized marketplaces for data storage and GPU computation framework
As of July 16, 2024, the Grayscale Decentralized AI Fund holds the following component assets and their respective weightings: Bittensor (2.92%), Filecoin (30.59%), Livepeer (8.64%), Near (32.99%), and Render (24.86%).
Effect on Token Prices
Following Grayscale’s announcement, a surge in the native tokens of the protocols included in the Decentralized AI Fund was observed:
– Bittensor’s TAO token witnessed a 9% increase, reaching $323
– Filecoin’s FIL token rose by almost 8%, trading just below $5 at $4.76
– Livepeer’s token surged by over 12%, with a trading price of $16.53
– Render’s RNDR token saw a modest 3.2% increase, priced at $6.81
– Near protocol’s NEAR token experienced a 1.2% decline, marking the only negative performance post-announcement
Hot Take: Decentralized AI Fund Potential
The launch of Grayscale’s Decentralized AI Fund introduces a new dimension to the crypto investment landscape, offering a unique opportunity to leverage the growth potential of decentralized AI protocols. By diversifying into emerging technologies like AI within the blockchain space, investors can position themselves at the forefront of innovation and decentralization in the digital asset realm.
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