Crypto asset manager Grayscale has announced the launch of a new fund dedicated to decentralized artificial intelligence (AI). The Grayscale Decentralized AI Fund LLC, which will rebalance quarterly, aims to enhance investment in AI within the cryptocurrency industry, according to a release shared with The Block. The fund includes decentralized AI projects such as Bittensor (TAO), Filecoin (FIL), Livepeer (LPT), Near (NEAR), and Render (RNDR), with Near, Filecoin, and Render being the top-weighted assets.
The fund will focus on financing projects in three primary areas:
1. Decentralized AI Applications: Including chatbots, generative images, and other AI uses.
2. Addressing Centralized AI Problems: Such as deep fakes, misinformation, and bot authentication.
3. AI-Related Infrastructure: Including GPU computation, data storage, decentralized marketplaces, and other services.
Rayhaneh Sharif-Askary, Grayscale’s head of product and research, emphasized the investment potential in disruptive technologies since the company’s inception in 2013. She highlighted the fund’s alignment with principles of decentralization, accessibility, and transparency, which are essential to mitigating risks associated with AI proliferation.
In May of this year, Grayscale launched a trust focusing on NEAR to provide investors with diversified crypto exposure. As of July 17, NEAR was trading at $6.13, showing a 0.42% increase in the past 24 hours.
Grayscale’s new fund complements its existing portfolio, including the Grayscale Bitcoin Trust (GBTC), which is the second-largest spot bitcoin exchange-traded fund (ETF) behind BlackRock’s IBIT. As of July 16, GBTC held $17.68 billion in assets under management, according to The Block’s Data Dashboard.
