Grayscale Adds Coinbase Custody to Its Bittensor Trust Ahead of Potential ETF Approval

Grayscale has expanded the custody structure for its Bittensor Trust, GTAO. The update was disclosed in a new Form 8-K filed with the U.S. SEC.

Coinbase has now been added as an additional custodian for part of the Trust’s TAO holdings, as BitGo will remain the primary custodian.

Grayscale has not disclosed how much TAO could move to Coinbase, but the 8-K describes the move as part of its ongoing risk-management approach.

Assets held by both custodians will remain in segregated accounts, and they will not be mixed with company assets or holdings belonging to other clients.

The filing comes as Grayscale continues pursuing a spot ETF conversion for GTAO. The company first filed an S-1 registration statement in December 2025. It later submitted an amended prospectus in April 2026, and if approved, GTAO would move from OTC trading to NYSE Arca.

Adding Coinbase gives the Trust a broader institutional custody setup. Coinbase already supports several crypto investment products in the United States, and BitGo also remains a major institutional custodian.

The move does not mean ETF approval is imminent. However, it strengthens the Trust’s operational structure while the conversion remains under review. For Bittensor, the 8-K shows continued institutional infrastructure developing around TAO.

Grayscale is still waiting on the SEC process. But GTAO now has two major custodians supporting the product. That leaves the Trust better prepared if its spot ETF conversion moves forward.

➛ Read The GTAO Form 8-K Here.