Grayscale is advancing the application process for the Bittensor(TAO) spot ETF, which will be the first direct crypto investment fund focused on AI networks. The TAO token is incentivized through a computing power reward mechanism, and the market ecosystem is relatively healthy.

After the halving event on December 14, the issuance of TAO has been adjusted, and the current price is fluctuating around $220. Despite short-term pressure, many analysts remain optimistic about its long-term prospects, generally expecting it to have the opportunity to challenge the $1,000 mark before 2026.

From a broader market perspective, the SEC's new approval framework is accelerating its implementation. Mainstream cryptocurrencies such as SOL, XRP, LINK, LTC, and others have successively received ETF listing approvals. This series of signals indicates that the openness of traditional finance to crypto assets is significantly increasing, and competition in the ETF sector will intensify accordingly.