Grayscale Investments has filed with the U.S. Securities and Exchange Commission (SEC) to launch a Bittensor exchange-traded product (ETP), potentially making it the first regulated TAO product in the U.S. market. The proposed ETP, expected to trade under the ticker GTAO, aims to provide investors with regulated exposure to Bittensor's native token, TAO, without directly holding the cryptocurrency. This filing marks the initial step in converting the existing Grayscale Bittensor Trust into a spot ETP. The announcement has helped stabilize the TAO price, which rebounded to approximately $243 following a sharp correction. Analysts suggest that regulatory approval could further boost interest in TAO, which has seen its market cap rise past $2.56 billion. The token's daily trading volume has also surged by 100% to over $117 million, indicating renewed bullish sentiment. Despite the optimism, the SEC's approval process remains uncertain, with concerns over custody and market integrity still under scrutiny.