Grayscale has submitted a 10-T form to the SEC for its Bittensor (TAO) Trust, aiming to transition the product into a fully exchange-traded offering. The filing, dated December 10, 2025, is designed to enhance transparency and comply with Countering the Financing of Terrorism requirements. If approved, the trust could be listed on the OTC market, reducing the private placement period to six months and improving liquidity for accredited investors, in response to growing demand for risk-on assets.