Grayscale Opens Its Decentralized AI Fund To Qualified Investors
In Brief
Grayscale unveiled the launch of the Grayscale Decentralized AI Fund, which is now open to qualified investors.
Cryptocurrency asset management company Grayscale unveiled the launch of the Grayscale Decentralized AI Fund, which is now open to qualified investors.
The fund’s strategy is based on three primary types of decentralized AI assets, such as protocols creating decentralized AI services like chatbots and image-generation tools, and solutions dealing with the issues of centralized AI, such as verifying authenticity against bots, deep fakes and misinformation. In addition, it features protocols creating AI infrastructure, encompassing decentralized marketplaces for data storage, GPU computation, 3D rendering, as well as streaming services.
The fund stands among the first securities to be exclusively invested in and derive value from the price of native tokens of decentralized AI protocols. It offers investors access through security, eliminating the challenges related to directly buying, storing, and safeguarding digital currencies.
Shares are created to mirror the values of the Fund Components, determined by their respective Digital Asset Reference Rates and Weightings, minus fees and expenses. The Fund Components include digital assets chosen according to the Fund Methodology implemented by the Manager, and the Fund undergoes periodic rebalancing to maintain its strategy.
Grayscale Decentralized AI Fund Offers Access To Near And Filecoin Among Other Projects
By participating, investors can gain diversified exposure to the intersection of AI and cryptocurrency.
Currently, the Grayscale Decentralized AI Fund manages assets totaling $562,664 and has 55,300 shares outstanding, with a management fee of 2.50%. Its portfolio encompasses decentralized AI projects such as Near, which holds a current weight of 30.10%, Filecoin at 30.87%, Render at 25.05%, Livepeer at 8.85%, as well as Bittensor at 3.13%.
In May, Grayscale introduced a trust fund focusing on NEAR with a diversified cryptocurrency exposure. Meanwhile, the company’s spot Bitcoin exchange-traded fund (ETF), the Grayscale Bitcoin Trust, represents the second largest spot Bitcoin ETF after BlackRock’s IBIT. As of the current writing, GBTC has over $18.56 billion in assets under management.
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About The Author
Alisa, a dedicated journalist at the MPost, specializes in crypto, AI, investments, and the expansive realm of Web3. With a keen eye for emerging trends and technologies, she delivers comprehensive coverage to inform and engage readers in the ever-evolving landscape of digital finance.
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Alisa, a dedicated journalist at the MPost, specializes in crypto, AI, investments, and the expansive realm of Web3. With a keen eye for emerging trends and technologies, she delivers comprehensive coverage to inform and engage readers in the ever-evolving landscape of digital finance.
