Crypto: Grayscale Launches Fund Dedicated to Decentralized AI

Grayscale Investments, a giant in digital asset management, has just launched a fund focused on decentralized artificial intelligence. This initiative promises to open new horizons for investors at the intersection of two disruptive technologies: AI and blockchain.

A diversified basket of high-potential AI tokens

The crypto universe is about to enter a new era thanks to this bold initiative by Grayscale Investments. The Grayscale Decentralized AI Fund LLC consists of five carefully selected cryptos:

• Near (NEAR)
• Filecoin (FIL)
• Render (RNDR)
• Livepeer (LPT)
• Bittensor (TAO)

The fund’s weighting, as of July 16, 2024, gives prominent positions to Near and Filecoin, representing 32.99% and 30.59% of the portfolio, respectively. Render follows closely with 24.86%, while Livepeer and Bittensor complete the allocation with 8.64% and 2.92%. This strategic distribution aims to maximize growth potential while minimizing risks.

Grayscale’s approach goes beyond simple token selection. The fund targets three essential asset categories: protocols developing decentralized AI services, those solving centralized AI challenges, and crucial infrastructure for AI technological advancement.

Perfect timing in a booming market

The launch of this fund comes at an opportune moment when the AI-related crypto sector is experiencing explosive growth.

This trend fits into a broader context of enthusiasm for AI. Startups in the field have raised a record $33 billion in the first half of 2024.

Rayhaneh Sharif-Askary, head of products at Grayscale, emphasizes the importance of this initiative:

“The rise of disruptive technologies creates unique opportunities. Our new fund offers investors a privileged entry point into the world of decentralized AI at an early stage of its development.”

In short, Grayscale’s initiative could well catalyze institutional investor interest in this promising segment, at the crossroads of AI and blockchain.