Bittensor surges 32% as Grayscale eyes ETP — Can TAO reach $500?
The post Bittensor surges 32% as Grayscale eyes ETP — Can TAO reach $500? appeared on BitcoinEthereumNews.com.
Key Takeaways What triggered Bittensor’s latest rally? Grayscale’s SEC filing and strong inflows fueled a 32% jump, lifting TAO toward its $403 resistance. What could decide TAO’s next move? A confirmed close above $403, with Open Interest near $250 million, could open room toward $489–$500. Institutional interest in Bittensor [TAO] continued to drive strong momentum. Grayscale filed a Form 10 with the U.S. Securities and Exchange Commission (SEC) to convert its TAO Trust into an exchange-traded product (ETP). If approved, institutional capital inflows could rise and attract retail investors seeking early exposure before the altcoin’s valuation increases with institutional entry. This anticipation has already driven a 32% gain for TAO in the past 24 hours. Michael Sonnenshein, CEO of Grayscale Investments, said “We believe that converting the Bittensor Trust into an Exchange-Traded Product reflects our commitment to increasing accessibility and regulatory alignment for institutional investors.” A run to $500 for TAO? TAO’s latest rally showed clear bullish intent. Price action broke out of a long-term consolidation pattern bounded by descending resistance and horizontal support. Chart analysis identified three short-term targets: $443, $489, and $500. However, for confirmation, TAO must close above its resistance level—a typical bullish indicator—near $403. That level has repeatedly rejected rallies, showing strong sell orders around it. Source: TradingView AMBCrypto examined other market factors to assess whether this rally could sustain momentum. Bittensor’s derivatives maintain a bullish setup The overall market setup remained bullish across multiple segments. In the Perpetual Futures market, capital inflows surged notably to $250 million in the past day, signaling that investors are increasing their long positions. Source: CoinGlass At press time, Derivatives Volume stood at $553 million, while rising Funding Rates suggested confidence in continued upside. Rising volume alongside increasing price action typically indicates a continuation of the upward trend. Technical indicators…
Filed under: News - @ October 13, 2025 2:30 pm