GTAO Grayscale Bittensor Trust (TAO)

NEUTRAL Impact: 4/10 8-K
Horizon immediate Filed May 20, 2026 Processed 23d 15h ago SEC 0001193125-26-232526
8-K context-dependent: Items 3.02
Latest settled — T+5d
GTAO ▲ +2.36% at T+5d
NEUTRAL call ✓ call won +2.36% · α vs SPY +0.51% · entry $7.63 → $7.81
Next anchor: T+20d in 5d
Currently $6.35 · -16.78% from $7.63 entry
Entry anchored
May 20, 2026
via day open
T+1d
-3.67%
call -3.67% · α -4.12%
$7.35
settled 23d ago
T+5d
+2.36%
call +2.36% · α +0.51%
$7.81
settled 16d ago
T+20d
—
call — · α —
—
in 5d
T+60d
—
call — · α —
—
in 2mo

Price Chart

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Executive Summary

Grayscale Bittensor Trust issued 211,900 shares (8.84% dilution) to accredited investors for $1,149,569 in a private placement at NAV-based prices. This is a routine periodic creation event that increases share count and token holdings proportionally.

Key Financial Metrics

Offering Size
$1.1M
Dilution
8.84%

Actionable Insight

This is a standard creation event for an open-ended trust. Monitor the trust's NAV and underlying TAO token price for any secondary market discount or premium. No immediate trading action required.

Key Facts

  • Issued 211,900 shares at varying NAV-based prices to accredited investors under Rule 506(c).
  • Aggregate proceeds of $1,149,569 received in TAO tokens (4,038.86617550 TAO).
  • Total shares outstanding increased to 2,397,300 as of May 20, 2026.
  • Grayscale Securities acted as Authorized Participant with no underwriting discounts or commissions.

Financial Impact

8.84% dilution in shares outstanding; $1,149,569 in proceeds (in-kind TAO contribution).

dilutionshares outstanding

Risk Factors

  • Continued periodic creations may dilute existing holders if NAV does not track token price proportionally.
  • Potential for secondary market discount if selling pressure from newly issued shares exceeds demand.

Market Snapshot

Exchange
OTC
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Commodity Contracts Brokers & Dealers

Documents Analyzed

This report is based on 4 SEC documents filed with EDGAR.

DocumentAccession Number
8-K Filing (Primary)0001193125-26-232526
Document: 0001193125-26-232526-index-headers.html0001193125-26-232526
Document: 0001193125-26-232526-index.html0001193125-26-232526
Document: 0001193125-26-232526.txt0001193125-26-232526
2 reports for GTAO
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Reports for GTAO — sortable, filterable
Type Now
May 20, 2026
23d ago
8-K
NEUTRAL ★ 4/10
$7.63 $7.81▲ +2.36%▲ +0.51%$6.35 (−16.78%)
Apr 29, 2026
6w ago
144
NEUTRAL ★ 2/10
$7.37 $10.11▲ +37.14%▲ +34.03%$6.35 (−13.86%)
Showing 2 of 2

US Market Status

Market Closed — Opens Mon (49h 40m)

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