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Source

TAO Daily

Publication

25 juin à 20h53

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https://taodaily.io/yuma-launches-total-market-fund-to-unlock-full-stack-bittensor-exposure-to-institutions/

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<div id="bsf_rt_marker"></div><div class='booster-block booster-read-block'> <div class="twp-read-time"> <i class="booster-icon twp-clock"></i> <span>Read Time:</span>4 Minute, 11 Second </div> </div> <p class="wp-block-paragraph">The category most institutional AI portfolios are missing is a layer of infrastructure and applications being built on decentralized networks, and that layer is now large enough to count as its own line item.</p> <figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="485" src="https://taodaily.io/wp-content/uploads/2026/06/image-189-1024x485.png" alt="" class="wp-image-20851" srcset="https://taodaily.io/wp-content/uploads/2026/06/image-189-1024x485.png 1024w, https://taodaily.io/wp-content/uploads/2026/06/image-189-300x142.png 300w, https://taodaily.io/wp-content/uploads/2026/06/image-189-768x364.png 768w, https://taodaily.io/wp-content/uploads/2026/06/image-189.png 1800w" sizes="(max-width: 1024px) 100vw, 1024px" /><figcaption class="wp-element-caption"><a href="https://taostats.io/subnets">Subnets Portfolio on Taostats</a></figcaption></figure> <p class="wp-block-paragraph">Bittensor sits at the center of it with 128 active subnets, $900M in subnet asset value, and AI products competing on price and performance against centralized incumbents.</p> <p class="wp-block-paragraph">Th<strong>e Yuma Total Market Fund </strong>is the new vehicle <strong>built for allocators who want that exposure in one weights-managed position</strong>, rounding out Yuma&#8217;s three-fund lineup where each strategy answers a different question about what an LP (Liquidity Provider) actually believes.</p> <div id="ez-toc-container" class="ez-toc-v2_0_76 counter-hierarchy ez-toc-counter ez-toc-grey ez-toc-container-direction"> <div class="ez-toc-title-container"> <p class="ez-toc-title" style="cursor:inherit">Table of Contents</p> <span class="ez-toc-title-toggle"><a href="#" class="ez-toc-pull-right ez-toc-btn ez-toc-btn-xs ez-toc-btn-default ez-toc-toggle" aria-label="Toggle Table of Content"><span class="ez-toc-js-icon-con"><span class=""><span class="eztoc-hide" style="display:none;">Toggle</span><span class="ez-toc-icon-toggle-span"><svg style="fill: #999;color:#999" xmlns="http://www.w3.org/2000/svg" class="list-377408" width="20px" height="20px" viewBox="0 0 24 24" fill="none"><path d="M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z" fill="currentColor"></path></svg><svg style="fill: #999;color:#999" class="arrow-unsorted-368013" xmlns="http://www.w3.org/2000/svg" width="10px" height="10px" viewBox="0 0 24 24" version="1.2" baseProfile="tiny"><path d="M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z"/></svg></span></span></span></a></span></div> <nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class="ez-toc-link ez-toc-heading-1" href="https://taodaily.io/yuma-launches-total-market-fund-to-unlock-full-stack-bittensor-exposure-to-institutions/#The_Missing_Line_Item" >The Missing Line Item</a></li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class="ez-toc-link ez-toc-heading-2" href="https://taodaily.io/yuma-launches-total-market-fund-to-unlock-full-stack-bittensor-exposure-to-institutions/#Three_Theses_Three_Vehicles" >Three Theses, Three Vehicles</a></li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class="ez-toc-link ez-toc-heading-3" href="https://taodaily.io/yuma-launches-total-market-fund-to-unlock-full-stack-bittensor-exposure-to-institutions/#What_Institutional_Access_Removes" >What Institutional Access Removes</a></li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class="ez-toc-link ez-toc-heading-4" href="https://taodaily.io/yuma-launches-total-market-fund-to-unlock-full-stack-bittensor-exposure-to-institutions/#The_Easier_Question" >The Easier Question</a></li></ul></nav></div> <h2 class="wp-block-heading"><span class="ez-toc-section" id="The_Missing_Line_Item"></span>The Missing Line Item<span class="ez-toc-section-end"></span></h2> <p class="wp-block-paragraph">Allocators have been describing the same gap to Yuma for months. They hold large public AI companies in one bucket, venture exposure to private labs in another, and nothing in the space between. That space is where Bittensor lives, and it is not abstract.</p> <p class="wp-block-paragraph">What the layer contains in practice:</p> <p class="wp-block-paragraph">1. Compute marketplaces selling GPU capacity directly to developers and labs</p> <figure class="wp-block-embed is-type-wp-embed is-provider-the-tao-daily wp-block-embed-the-tao-daily"><div class="wp-block-embed__wrapper"> <blockquote class="wp-embedded-content" data-secret="fnfMUjO23A"><a href="https://taodaily.io/lium-to-become-the-first-agent-first-compute-provider/">Lium to Become the First Agent-First Compute Provider</a></blockquote><iframe class="wp-embedded-content" sandbox="allow-scripts" security="restricted" style="position: absolute; visibility: hidden;" title="“Lium to Become the First Agent-First Compute Provider” — The TAO Daily" src="https://taodaily.io/lium-to-become-the-first-agent-first-compute-provider/embed/#?secret=bdSSt0sVMo#?secret=fnfMUjO23A" data-secret="fnfMUjO23A" width="500" height="282" frameborder="0" marginwidth="0" marginheight="0" scrolling="no"></iframe> </div></figure> <p class="wp-block-paragraph">2. Data marketplaces aggregating training corpora at internet scale</p> <figure class="wp-block-embed is-type-wp-embed is-provider-the-tao-daily wp-block-embed-the-tao-daily"><div class="wp-block-embed__wrapper"> <blockquote class="wp-embedded-content" data-secret="4w0MxQyqkj"><a href="https://taodaily.io/data-universe-marketplace-opens-a-new-era-for-decentralized-data-access/">Data Universe Marketplace Opens a New Era for Decentralized Data Access</a></blockquote><iframe class="wp-embedded-content" sandbox="allow-scripts" security="restricted" style="position: absolute; visibility: hidden;" title="“Data Universe Marketplace Opens a New Era for Decentralized Data Access” — The TAO Daily" src="https://taodaily.io/data-universe-marketplace-opens-a-new-era-for-decentralized-data-access/embed/#?secret=ZEBRcKEIgu#?secret=4w0MxQyqkj" data-secret="4w0MxQyqkj" width="500" height="282" frameborder="0" marginwidth="0" marginheight="0" scrolling="no"></iframe> </div></figure> <p class="wp-block-paragraph">3. Drug discovery platforms running molecular simulation workloads</p> <figure class="wp-block-embed is-type-wp-embed is-provider-the-tao-daily wp-block-embed-the-tao-daily"><div class="wp-block-embed__wrapper"> <blockquote class="wp-embedded-content" data-secret="ZZRVaeR0o6"><a href="https://taodaily.io/niome-sn55-and-the-case-for-synthetic-bio-data-on-bittensor/">NIOME (SN55) and the Case for Synthetic Bio Data on Bittensor</a></blockquote><iframe class="wp-embedded-content" sandbox="allow-scripts" security="restricted" style="position: absolute; visibility: hidden;" title="“NIOME (SN55) and the Case for Synthetic Bio Data on Bittensor” — The TAO Daily" src="https://taodaily.io/niome-sn55-and-the-case-for-synthetic-bio-data-on-bittensor/embed/#?secret=pQnJo0c8sk#?secret=ZZRVaeR0o6" data-secret="ZZRVaeR0o6" width="500" height="282" frameborder="0" marginwidth="0" marginheight="0" scrolling="no"></iframe> </div></figure> <p class="wp-block-paragraph">4. Fraud detection products competing against established financial-services incumbents</p> <figure class="wp-block-embed is-type-wp-embed is-provider-the-tao-daily wp-block-embed-the-tao-daily"><div class="wp-block-embed__wrapper"> <blockquote class="wp-embedded-content" data-secret="mliNIbyu3b"><a href="https://ta