Grayscale Expands TAO Custody with Coinbase and Updates BitGo Deal
Grayscale Bittensor Trust has enhanced its custody arrangements for TAO by expanding its relationship with BitGo and adding Coinbase as an additional custodian. The Trust updated its agreement with BitGo, which remains the primary custodian, under an amended and restated custodial services agreement effective September 30, 2026. This agreement includes segregated asset holdings, insurance coverage, and fork-handling discretion.
Simultaneously, Grayscale introduced Coinbase as a secondary custodian through a Prime Broker Agreement, also effective September 29, 2026. This allows a portion of TAO holdings to be allocated to Coinbase’s segregated accounts and cold storage workflows. The move aims to diversify custody and improve risk management as the Trust’s assets grow.
In connection with these updates, the Trust terminated its earlier 2025 BitGo custodial agreement, which was originally signed on March 12, 2025. The termination, effective September 30, 2026, was due to the superseding amended BitGo agreement and the new Coinbase arrangement.