Grayscale Decentralized AI Fund, which focuses on the intersection of AI and crypto, is now open to eligible accredited investors as of April 21. Grayscale has also revealed that the fund has a management fee of 2.5% and currently manages approximately $1.05 million in assets.
Previously available only through private placement, the company said the fund will now offer a diversified basket of digital assets, including Near Protocol, Filecoin, Render, Livepeer, and Bitternsor. The firm acknowledged that the fund will focus on three key areas: decentralized AI services, solutions to AI-related challenges, and AI infrastructure.
Grayscale makes it’s Decentralized AI Fund eligible to accredited investors
Grayscale Decentralized AI Fund is now open to eligible accredited investors. Get diversified exposure to the intersection of AI and crypto with fund holdings: $NEAR$TAO$RENDER$FIL$GRT$LPT.
Grayscale has revealed its Decentralized AI Fund is now open to eligible accredited investors. The firm also highlighted that its Decentralized AI Fund focuses on the integration of artificial intelligence and blockchain technology.
The company also noted that the fund has a management fee of 2.5% and manages roughly $1.05 million in assets. According to Grayscale’s official website, its current holdings include NEAR (24.54%), TAO (27.18%), RENDER (22.75%), FIL (17.26%), GRT (8.27%), and LPT.
Grayscale said that Render and Livepeer will contribute to infrastructure, offering decentralized GPU computation and AI-enhanced video streaming, respectively. Near Protocol and Filecoin will provide the fund with decentralized data storage solutions; the firm also revealed that Bitternsor will focus on creating a marketplace for AI model training and development, supporting decentralized AI services and infrastructure.
Grayscale noted that shares are intended to reflect the values of the Fund Components as determined by reference to their respective Digital Asset reference Rates and Weightings, less fees, and expenses. According to the firm’s website, the Fund currently reports a net asset value per share of $4.82 as of April 21, with 218,100 shares outstanding. The crypto company also recorded over $1 million in Assets Under Management (AUM), at the time of publication.
Grayscale Investments launched its Decentralized AI Fund on July 17, 2024, and noted that the Fund will rebalance quarterly. Sharif-Askary believes the launch of the Grayscale Decentralized AI Fund provides an opportunity to invest in Decentralized AI at its earliest phase. The virtual asset company maintained that the Fund will provide access in the form of security without the challenges of buying, storing, and safekeeping virtual currencies directly.
Grayscale’s fund targets three primary categories of Decentralized AI
The firm revealed the Decentralized AI Fund will focus on Decentralized AI services, such as chatbots and image generation services. The fund will also include solutions to centralized AI-related problems, including authenticity checks against bots, deepfakes, and misinformation. Grayscale added that the fund will also focus on infrastructure and resources critical to AI technology development, including decentralized marketplaces for data storage, GPU computation, 3D rendering, and streaming services.
“The blockchain-based AI protocols embody the principles of decentralization, accessibility, and transparency, and the Grayscale team feels strongly that these protocols can help mitigate the fundamental risks emerging alongside the proliferation of AI technology.”
-Rayhaneh Sharif-Askary, Grayscale’s Head of Product & Research.
The digital asset manager believes that decentralized AI holds the potential to bring important decisions regarding AI development out from walled gardens and into public ownership. The company also acknowledged its belief in Bittensor to offer a compelling solution as a decentralized AI platform to provide a viable alternative to centralized AI incumbents.
Grayscale highlighted that Bittensor will help facilitate the development of open and global AI systems through the use of decentralized networks and economic incentives. The firm said it offers eligible accredited investors exposure to Bittensor through the Grayscale Bittensor Trust.
The trust also enables investors to gain exposure to TAO, the token underlying the Bittensor platform. The digital asset manager argued that using its TAO token, Bittensor will align incentives between ecosystem participants, including its users and token holders.
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This articles is written by : Nermeen Nabil Khear Abdelmalak
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