TAO Token Surges 6.93% After Grayscale, Bitwise Spot ETF Filings and Halving Event Boost

Bittensor (TAO) experienced a notable price increase over the last 24 hours, with the current TAOUSDT price on Binance at 252.9, reflecting a 6.93% rise from the 24h open of 236.5. This price movement is primarily attributed to recent announcements from Grayscale Investments and Bitwise, both filing applications with the U.S. SEC for spot TAO ETFs, which have heightened institutional interest and market optimism. Additional factors contributing to the positive momentum include a recent halving event that reduced TAO's daily token supply by 3,600 tokens and increased short liquidations following the ETF filing news. Over the past 24 hours, TAO saw active trading, with volumes exceeding 390,000 TAO (over 91 million USDT), a market capitalization around $2.70 billion, and the token ranked approximately #29 in the broader crypto market.