TAO price prediction: Grayscale submits Form 10 sign up statement for Bittensor Trust, TAO is expected to pump 236% to challenge new highs.

Grayscale Investments has taken a bold step by submitting a Form 10 registration statement to the SEC for its Bittensor Trust (TAO). This move aims to shorten the lock-up period of the TAO private sale from 12 months to 6 months and to make it an SEC Reporting Company. Once approved, TAO will reach a new level of transparency, accessibility, and regulatory status, potentially standing alongside Grayscale's flagship products GBTC (Bitcoin Trust) and ETHE (Ethereum Trust). From a Technical Analysis perspective, the TAO price is currently in a bullish pattern of a "falling wedge", with a potential rise of up to 236%, possibly recovering or even exceeding the historical high (ATH) of $1,248 from April 2024.

Grayscale Layout: Enhancing the Regulatory Status and Liquidity of TAO

· Purpose of submitting Form 10: The main purpose of Grayscale submitting Form 10 is to allow Bittensor Trust to begin reporting under Section 12(g) of the Securities Exchange Act. This will require Grayscale to submit 10-Ks, 10-Qs, and audited financial statements to the SEC, thereby providing a higher level of transparency for TAO investors.

· Shorten the lock-up period to attract institutional funds: A key operational change is reducing the holding period for private placements from 12 months to 6 months. This will provide earlier supporters with quicker liquidity and may attract new institutional capital inflow.

· Joining the "flagship" ranks: Grayscale stated that this is the first step to make TAO a publicly traded, SEC-reporting investment product. This move effectively places TAO in the same regulatory category as Grayscale's Bitcoin, Ethereum, and Solana trusts.

· Target OTC Market Listing and ETP Potential: If Form 10 becomes effective, Grayscale plans to publicly quote the shares of this trust on OTC Markets, similar to its existing products like GBTC. More importantly, this move brings Bittensor one step closer to the milestone of exchange-traded products (ETP), which will greatly expand the accessibility of TAO to institutional and retail investors.

· Market Influence of Bittensor: On-chain data shows that the influence of Bittensor is growing, with TAO accounting for about 33% of the total mind share in the DePIN (Decentralized Physical Infrastructure Network) sector.

TAO Price Outlook: Technical Patterns Indicate a Potential 236% Rise

(Source: TradingView)

· Falling Wedge pattern signals bullish: From a Technical Analysis perspective, the price chart of TAO is forming a "falling wedge" pattern, which is typically a precursor to a bullish reversal. Since October 2024, the TAO/USDT trading pair has been consolidating within the falling wedge, and as the pattern fills, a breakout may be imminent.

· Potential Target Price $1,353: Based on the Technical Analysis target from the falling wedge (by measuring the longest height of the formation and overlaying it on the potential breakout point), the TAO price may be brewing a 236% breakout. Such a rise is expected to push the TAO price up to $1,353, thereby clearing and to some extent exceeding its historical high of $1,248 set on April 11, 2024.

· Key resistance levels and entry points:

• Traders looking to establish a bullish position in TAO are advised to wait for the price to break through the immediate resistance level at $402.3.
• If the price can decisively close above this level, accompanied by a successful retest confirmation or a stable position at $499.6, it will set the tone for further rises.

· RSI Indicator Supports Rise: The Relative Strength Index (RSI) is currently at 63, indicating that the price of TAO still has room for rise before being considered overbought. The upward trajectory of the RSI also suggests that momentum is strengthening, supporting the bullish viewpoint.

· Risks and downside support:

• Bearish risk: If the price is rejected at the upper wedge boundary, it may pull back.
• Downward support: The bearish volume distribution (black horizontal bar) indicates that sellers may be waiting below $219.6. If this level is lost, subsequent selling pressure may exacerbate losses, potentially pushing the TAO price toward the lower boundary of the falling wedge at $130.3.

Conclusion

Grayscale submitted Form 10 registration statement for Bittensor Trust (TAO), which not only provides TAO with greater regulatory legitimacy and institutional appeal but also serves as a significant liquidity catalyst for one of the most promising AI tokens. Driven by institutional interest and potential ETP expectations, the technical "falling wedge" **pattern suggests that TAO may experience a explosive rise. If TAO can successfully break through key resistance levels, its potential target of $1,353 will make it one of the most notable assets in the AI and DePIN space during this bull market.

Disclaimer: This article is for informational purposes only and does not constitute any investment advice. The cryptocurrency market is highly volatile, and investors should make decisions cautiously.