Grayscale Launches AI Fund Featuring These Top 5 Altcoins🚀

Grayscale Investments has launched a new fund, Grayscale Decentralized AI Fund LLC, featuring leading altcoins and focusing on decentralized AI assets.

Grayscale’s new fund targets "decentralized AI" as a major opportunity for investors. The fund offers exposure to AI protocols within the crypto industry.

Rayhaneh Sharif-Askary, Grayscale's Head of Product and Research, emphasized the potential of blockchain-based AI protocols: “These protocols embody decentralization, accessibility, and transparency. They can mitigate risks associated with AI technology proliferation.”

The fund includes five top-weighted tokens based on their roles in AI development:

- TAO: Decentralized AI services like chatbots and image generation.

- FIL & LPT: Solutions for AI-related issues like bot checks, deep fakes, and misinformation.

- NEAR & RNDR: Infrastructure for AI tech, including data storage, GPU computation, and 3D rendering.

Following the announcement, FIL & RNDR prices rose 7%, while LPT and TAO saw gains of 13% and 11%. NEAR also experienced a slight increase of 0.3%.

Grayscale’s new fund comes after AI trends spurred the crypto market in early 2024. Sectors such as "smart contract platforms" and "service crypto" showed significant growth, addressing AI challenges and supporting AI development.

In a recent report, Grayscale highlighted AI crypto coins as high-potential tokens for Q3 2024. The new fund includes assets like NEAR and RNDR, which were also featured in the report.

Grayscale has been expanding its crypto-focused offerings, including the Grayscale Dynamic Income Fund (GDIF) launched earlier this year. GDIF focuses on crypto staking and includes tokens like APT, TIA, and ATOM.

These moves underscore Grayscale’s commitment to leveraging the synergies between AI and blockchain. “Blockchain can democratize access to AI, lowering barriers for developers to build and monetize their work, enhancing AI innovation and competition,” said Will Ogden Moore, Grayscale’s Research Associate.