Grayscale Files for First Spot Bittensor ETF to Meet Investor Demand
- First ETF Application: Grayscale has filed with the SEC to convert the Bittensor Trust (TAO) into an exchange-traded fund, marking the first spot ETF initiative in the U.S. to offer direct exposure to Bittensor, which is expected to attract more investor interest in digital assets.
- Product Portfolio Expansion: A Grayscale spokesperson stated that this move is aimed at meeting the growing demand for digital assets from investors, not only enriching the company's product platform but also potentially enhancing its market competitiveness.
- Public Listing Impact: The Bittensor Trust was opened to a wider investor base through a public listing earlier this month, which is expected to further drive the market acceptance and liquidity of TAO.
- Exchange Information: The planned Grayscale Bittensor ETF will trade on NYSE Arca under the ticker symbol GTAO, with Coinbase Custody Trust and BitGo Trust handling the fund's custody services, ensuring the security of investors' assets.
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Technical Analysis for ALT
Technical Sentiment Analysis for Altlayer (ALT) As of , Altlayer (ALT) is exhibiting a Sell technical sentiment. Our proprietary analysis, which aggregates 3 technical signals, shows that 0 indicators are flashing buy, while 3 are indicating sell.
Momentum Indicators: RSI, MACD & Overbought/Oversold Status Currently, the Relative Strength Index (RSI) for ALT stands at -, which suggests a Neutral condition. Meanwhile, the MACD (12, 26) indicator is at -, providing a Neutral signal for short-term momentum. Other oscillators like the Stochastic Oscillator at - and the Commodity Channel Index (CCI) at - further confirm a - outlook for the stock.
Support, Resistance & Moving Averages From a structural perspective, ALT is trading below its 60-day moving average of $- and below its 200-day long-term moving average of $-. Key price levels to watch include the immediate resistance at $- and strong support at $-. A break above $- could signal a bull continuation, while falling below $- may test the next Fibonacci floor at $-.
Altlayer (ALT) Support & Resistance Level
| Name | S3 | S2 | S1 | Pivot Points | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Classic | 0.00306 | 0.00498 | 0.00691 | 0.00883 | 0.0108 | 0.0127 | 0.0146 |
| Fibonacci | 0.00498 | 0.00645 | 0.00736 | 0.00883 | 0.0103 | 0.0112 | 0.0127 |
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