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Grayscale Launches Artificial Intelligence-Focused Crypto Fund; AI Tokens Gain

Jul 16, 2024

As a seasoned researcher with a deep understanding of the blockchain and artificial intelligence industries, I find Grayscale’s latest move to be an intriguing development in the ever-evolving digital asset landscape. With my background in technology and finance, I have witnessed firsthand the rapid advancements in AI and the growing role it plays in various sectors, from healthcare and education to finance and transportation.

Investment firm Grayscale, known for managing a significant bitcoin ETF (GBTC), unveiled on Wednesday a fresh digital asset fund. This new fund focuses on investing in tokens related to artificial intelligence (AI).

The Grayscale Decentralized AI Fund is open to accredited investors, as stated by the company, with a goal to invest in the expansion of protocols that blend blockchain technology and artificial intelligence.
The investment portfolio for this fund began by purchasing the indigenous cryptocurrencies of AI-focused protocols: Bittensor (TAO), Filecoin (FIL), Livepeer (LPT), Near (NEAR), and Render (RNDR). Every three months, the asset allocation will undergo adjustments.

As a researcher, I’ve examined the market trends on CoinGecko and discovered that within the past hour, certain cryptocurrency tokens experienced price increases ranging from 1% to 3%. Immediately following major announcements, this pattern is not uncommon.

As a analyst at Grayscale, I strongly believe that blockchain-based AI protocols hold the key to addressing the inherent risks associated with the widespread adoption of artificial intelligence technology. These protocols uphold the fundamental principles of decentralization, accessibility, and transparency.

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2024-07-17 17:20