Grayscale filed a Form 10 for its Bittensor Trust (TAO) with the SEC, aiming to reduce the private placement holding period to six months. If approved, this move would increase transparency and attract institutional investors to TAO. Grayscale plans to quote TAO shares on OTC Markets and potentially create an exchange-traded product (ETP).

On-chain data shows TAO’s influence is growing, with 33% of the DePIN sector’s mindshare. The technical analysis indicates a bullish reversal for TAO, with a potential 236% breakout to $1,353. Traders should watch for a break above $402.3 to confirm the uptrend. The RSI and volume profiles suggest further upside potential for TAO.

However, a rejection from the upper boundary of the falling wedge could send TAO price lower to $130.3. Investors should monitor key support and resistance levels for potential entry and exit points. This move towards transparency and accessibility could push TAO to new all-time highs, benefiting both institutional and retail investors.

Read more at Yahoo Finance: Grayscale’s Move Could Send This Altcoin To A New ATH