Grayscale Launches Decentralized AI Fund for Accredited Investors

Key Highlights

The decentralized AI fund by Grayscale comprises significant protocols such as Near, Filecoin, Render, Livepeer, and Bittensor.
As of September 27, 2024, the fund has reported a net asset value per share of $9.50.

Grayscale, the asset management firm, has introduced the Grayscale Decentralized AI Fund, which provides accredited investors with access to decentralized artificial intelligence protocols.

The Grayscale Decentralized AI Fund is now available for eligible accredited investors. Experience diversified exposure to the intersection of AI and cryptocurrency with fund assets: $NEAR $RNDR $FIL $LPT $TAO.

View important disclosures or contact a team member: https://t.co/gYetdms280 pic.twitter.com/wqoEFYL7KE

— Grayscale (@Grayscale) September 30, 2024

The fund, previously accessible only through private placements, now presents a diversified array of native tokens from top decentralized AI and blockchain initiatives.

Quarterly rebalancing of the fund is conducted to align with investment goals, with asset distribution among five pivotal assets: Near Protocol (29.7%), Filecoin (29.3%), Render (26.7%), Livepeer (8.7%), and Bittensor (5.4%).

The Grayscale Decentralized AI Fund emphasizes three fundamental aspects: services related to decentralized AI, solutions addressing AI challenges, and AI infrastructure development.

Render and Livepeer enhance infrastructure offerings through decentralized GPU computing and AI-optimized video streaming, respectively. Near Protocol and Filecoin provide decentralized storage solutions. Bittensor is dedicated to establishing a marketplace for AI model training and development to foster decentralized AI services and infrastructure.

As of September 27, 2024, the fund’s net asset value (NAV) per share stood at $9.50, noticing a one-day NAV increase of 1.5%. The total assets under management reached $1,462,249, with 153,900 shares outstanding.

Despite previous fluctuations, the fund recorded a decrease of 15.6% over the last month. Since its inception on July 2, 2024, the NAV has dropped by 26.8%, indicative of the volatility experienced within the broader AI and blockchain sectors.

Established in 2013, Grayscale has emerged as the largest crypto asset manager globally, providing a comprehensive range of private placements, public listings, and ETFs.