Grayscale, a leader in digital asset management, has announced the Decentralized crypto AI Fund, providing accredited investors with an opportunity to capitalize on the growth of AI protocols within the crypto ecosystem. As of July 17, 2024, the fund comprises bittensor (TAO) at 2.92%, filecoin (FIL) at 30.59%, livepeer (LPT) at 8.64%, near (NEAR) at 32.99%, and render (RNDR) at 24.86%, each weighted to balance risk and return potential.

This initiative, Grayscale noted, is part of the firm’s strategy to leverage disruptive technologies, mitigating risks associated with AI advancements. “I am thrilled about this new Grayscale AI fund,” Barry Silbert, the founder and CEO of Digital Currency Group, Grayscale’s parent company, stated on X.

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Decentralized AI protocols aim to counter the centralization of AI development, which is currently dominated by a few large entities. By utilizing blockchain technology, these protocols distribute ownership and governance, enhance transparency, and enable permissionless access to AI services. The fund targets three primary sectors: AI services, solutions to centralization-related issues, and infrastructure crucial for AI development.

As of July 17, 2024, Grayscale’s net asset value (NAV) per share stands at $9.87, with 55,300 shares outstanding. The AI fund holds an approximate value of $551,238.97, as per Grayscale’s Wednesday disclosure. Each share corresponds to 0.52782725 NEAR, 0.66718612 FIL, 0.37947447 RNDR, 0.05531629 LPT, and 0.00095611 TAO.