Yuma, a Digital Currency Group‑backed investment firm, announced on Thursday the launch of the Yuma Total Market Fund, offering institutional investors a single vehicle to obtain exposure to Bittensor’s native TAO token and a diversified basket of AI‑focused subnets. Bittensor operates as a decentralized network that supports AI infrastructure through 128 specialized subnets, which Yuma estimates represent more than $900 million in combined value, though network tracker Taostats places the figure nearer $300 million. The native TAO token holds a market capitalization of roughly $2.4 billion. The fund opened with seed capital from an undisclosed anchor investor. Institutional interest in the Bittensor ecosystem has risen as the network’s subnet economy has expanded. In April, Grayscale increased TAO’s weighting in its Decentralized AI Fund to 43% during a quarterly rebalance, later reducing the allocation to about 20% and elevating Near Protocol’s NEAR token to the fund’s largest position at approximately 44%. Asset managers have also pursued broader access, with Bitwise filing a TAO Strategy ETF application with the U.S. Securities and Exchange Commission in April and Grayscale submitting an amended registration to convert its Bittensor Trust into a spot TAO exchange‑traded fund listed on NYSE Arca pending approval. The push for decentralized AI follows the U.S. Commerce Department’s temporary suspension of public access to Anthropic’s Fable 5 and Mythos 5 models over national security and export‑control concerns. Grayscale head of research Zach Pandl noted that the restrictions highlighted the risks of centralized AI control, suggesting rising demand for decentralized alternatives such as Bittensor. Access to Mythos 5 was reinstated on Friday, and reports indicate the Trump administration may allow public access to Fable 5 as early as next week. The fund’s performance and the regulatory outcomes of pending ETF proposals remain to be seen.