Grayscale’s SEC Trust Filing Sends Bittensor (TAO) Flying 33%: $500 Target Incoming?

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Well, well, well. Look who’s flying high now! Bittensor (TAO) just skyrocketed by a solid 33% after Grayscale made their bold move and filed a Form 10 with the SEC for the Grayscale Bittensor Trust. Oh, the drama! 💥

If this filing goes through (fingers crossed), TAO would join the club of public companies, having to report its every little move with fancy things like 10-K and 10-Q forms, complete with audited financials. And guess what? The 12-month lockup on private placements gets halved to just six months. Talk about a glow-up! 😎 Grayscale’s playbook here is basically copying their BTC and ETH success. It’s like they have a cheat code for crypto. 📈

And here’s the juicy bit: TAO is perfectly positioned at the intersection of two hot buzzwords-decentralized AI and institutional crypto. The timing couldn’t be better. If institutional players want in on the AI action without the custody nightmare, TAO is their ticket. Just imagine the floodgates of liquidity that could open. 💰

Bittensor (TAO) Price Action: Key Levels, Momentum, and What’s Next

Okay, let’s talk numbers. TAO has made a stunning comeback from its $315 support. It’s now comfortably perched above $410, its highest level in weeks. Just to make things even more exciting, TAO broke through $327 and $405, confirming a breakout from a year-long falling wedge. Move over, bears-bulls are back in town! 🐂

The technical indicators are basically screaming “bullish” too. The RSI has climbed from the low 40s into the sweet, sweet land of bullish territory, and the MACD has finally stopped being flat, flipping positive like a pancake. Delicious. 🥞

Volume is picking up, but open interest is still a bit chill, which means the rally is mostly driven by spot traders for now. If the sidelined traders start jumping in, we could see this rocket ship really take off. 🚀

Immediate supports are at $380, $355, and $327. But as long as TAO stays above $405, we’re looking at a potential sprint to $500 in the coming sessions. Grab your popcorn! 🍿

Institutions Accumulate as AI Thesis Strengthens

Meanwhile, in the land of big money, institutions are quietly stacking up their TAO holdings. Since July, Nasdaq-listed TAO Synergies and xTAO (TSXV) have bought up around 83,649 TAO (worth about $26-27M). And they’re staking some of that for juicy double-digit yields, shrinking the circulating supply. Smart, right? 😏

Within the AI universe, Bittensor’s unique subnet design and on-chain rewards continue to attract developers and data providers like moths to a flame. Sector trackers are now placing TAO among the top contenders in the DePIN/AI space. Can you say “future unicorn”? 🦄

Bottom Line

So, where does that leave us? The breakout above $405 has cleared the way for a potential rally to $500 in the near future. Analysts are even eyeing targets between $700-$900 if the momentum keeps up. Honestly, TAO might just give us a nice surprise. 🎉

But, let’s not get too carried away. If TAO drops back below $355-$327, it could slip into a short-term consolidation. Fingers crossed that doesn’t happen, though. 🤞

All in all, things are looking pretty darn bullish for TAO. Grayscale’s SEC filing, combined with steady institutional buying and positive on-chain signals, has put this token on a solid upward trajectory. As long as it holds above the $405 breakout zone, that $500 target is looking more like a reality. Who’s ready to ride this wave? 🌊

Cover image from ChatGPT, TAOUSD chart from Tradingview

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2025-10-14 12:26