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- Grayscale has made it a point of order to increase and diversify its portfolio of digital asset trusts and ETFs.
- Today, the asset management firm has launched an Artificial Intelligence Crypto Sector that will comprise 20 AI tokens.
For years, Artificial Intelligence (AI) and cryptocurrency evolved on parallel tracks. Now, their convergence is giving rise to a new class of digital assets: AI tokens. These tokens power decentralized platforms designed to build, run, or support AI technology. Recognizing the potential of this emerging sector, Grayscale Investments has introduced a dedicated Artificial Intelligence Crypto Sector.
In its announcement, Grayscale stated, “It will include the protocols for which AI applications are the primary use case.” This move mirrors the evolution of traditional financial indices. They’re taking inspiration from the traditional finance world. For example, back in 2016, names like S&P and MSCI decided that Real Estate deserved to be treated as its own sector in their Global Industry Classification Standard (GICS).
Previously, real estate companies were grouped under the “Financials” category. This move reflects how quickly the AI + crypto space has grown, over 4x in just the last two years. Grayscale is acknowledging that this isn’t just a passing trend; it’s a shift in how blockchain and crypto tech are being used.
Key tokens in the AI sector
Grayscale’s defined Artificial Intelligence Crypto Sector now includes 20 digital assets with a combined circulating market capitalization of around $20 billion. While this makes it the smallest among Grayscale’s defined sectors, representing just 0.67% of the total crypto market cap, the firm remains optimistic about its future. “We believe that the Artificial Intelligence Crypto Sector will grow in both absolute terms and relative to the rest of the crypto market,” Grayscale stated.
The sector features key projects such as Bittensor (TAO), currently the largest AI-related token, which follows a Bitcoin-like supply model with a cap of 21 million tokens and a halving every four years. NEAR, categorized under AI Platforms, holds a market cap of $3.5 billion, while Render (RENDER), listed as an AI Tool & Resource, stands at $2.5 billion.
Other notable entries include Artificial Superintelligence Alliance (FET), Worldcoin (WLD), and Virtuals (VIRTUAL), all under the AI Apps & Agents category, with respective market caps of $2.3 billion, $2.1 billion, and $1.6 billion. Virtuals, in particular, are generating meaningful revenue, around $30 million annually as of May 2025, largely from trading fees on its AI agent token platform.
The projects that are currently developing foundational infrastructure for decentralized AI, like Prime, Gensyn, and Nous Research, are expected to roll out their tokens later this year. If and when they do, there’s a strong chance they’ll be added to Grayscale’s AI sector classification, especially if they meet the required thresholds for market cap and liquidity.
Looking ahead, Grayscale Research is focusing on developments like the upcoming Bittensor halving, which is expected to occur around December 20, 2025. They also focus on growth in subnets, innovation in distributed AI training, signs of sustainable revenue models, and how AI agents are using stablecoins.
These themes highlight Grayscale’s ongoing interest in the growing intersection of artificial intelligence and blockchain technology.
