GBTC Grayscale Bitcoin Trust ETF

Grayscale Investments®, the world’s largest crypto asset manager*, today announced the creation and public launch of the Grayscale Decentralized AI Fund LLC (“the Fund”). The Fund seeks to provide investors with exposure to protocols in the burgeoning artificial intelligence sector within the crypto ecosystem. The Fund will rebalance quarterly, and currently includes a basket of Decentralized Artificial Intelligence (AI) crypto protocols, including: Bittensor (TAO), Filecoin (FIL), Livepeer (LPT), Near (NEAR), and Render (RNDR) as of July 16, 2024.**

“The rise of disruptive technologies has created compelling opportunities for Grayscale’s investors since our 2013 inception, and we believe the launch of the Grayscale Decentralized AI Fund provides an opportunity to invest in Decentralized AI at its earliest phase," said Grayscale’s Head of Product & Research, Rayhaneh Sharif-Askary. "The blockchain-based AI protocols embody the principles of decentralization, accessibility, and transparency, and the Grayscale team feels strongly that these protocols can help mitigate the fundamental risks emerging alongside the proliferation of AI technology.”

Artificial intelligence is largely centralized to a handful of notable companies that are core to driving the technology’s development and mainstream adoption. Many decentralized AI companies or protocols have emerged in response to continued technological advancements and practical needs, and are designed to leverage the full potential of AI technology while addressing some of the limitations and risks associated with centralization. Decentralized AI leverages blockchain technology to distribute ownership and governance over AI services, enables permissionless access to use or build AI technology, and seeks to increase AI’s transparency.

The Fund includes three primary categories of Decentralized AI assets:

• Protocols building Decentralized AI services, such as chatbots and image generation services
• Protocols building solutions to centralized AI-related problems, including authenticity checks against bots, deep fakes, and misinformation
• Infrastructure and resources critical to AI technology development, including decentralized marketplaces for data storage, GPU computation, 3D rendering, and streaming services

As of July 16, 2024, Grayscale Decentralized AI Fund Components were a basket of the following assets and weightings.**

• Bittensor (TAO), 2.92%
• Filecoin (FIL), 30.59%
• Livepeer (LPT), 8.64%
• Near (NEAR), 32.99%
• Render (RNDR), 24.86%

Grayscale Decentralized AI Fund is available for eligible accredited investors, and aims to provide exposure to the performance of protocols focused on the Decentralized AI theme. Please reach out to info@grayscale.com for additional information or with any questions.

This press release is not an offer to sell or the solicitation of an offer to buy any security in any jurisdiction where such an offer or solicitation would be illegal, nor shall there be any sale of any security in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of that jurisdiction.

Grayscale intends to attempt to have Shares of new products quoted on a secondary market. However, there is no guarantee that we will be successful. Although the shares of certain products have been approved for trading on a secondary market, investors in the new products should not assume that the Shares will ever obtain such an approval due to a variety of factors, including questions regulators, such as the SEC, FINRA, or other regulatory bodies may have regarding such products. As a result, shareholders of such products should be prepared to bear the risk of investment in the Shares indefinitely. To date, certain products have not met their investment objective and the Shares of such products quoted on OTCQX have not reflected the value of the digital assets held by such products, less such products’ expenses and other liabilities, but have instead traded at a premium over such value, which at times has been substantial. There have also been instances where the Shares of certain products have traded at a discount.

*By AUM as of 7/15/2024**Holdings are subject to change

About Grayscale Investments® Grayscale enables investors to access the digital economy through a family of future-forward investment products. Founded in 2013, Grayscale has a proven track record and deep expertise as the world’s largest crypto asset manager. Investors, advisors, and allocators turn to Grayscale for single asset, diversified, and thematic exposure. For more information, please follow @Grayscale or visit grayscale.com.

Media ContactJennifer Rosenthalpress@grayscale.com