Crypto asset manager Grayscale introduces Space and Time Trust
Grayscale, a leading manager of digital currency trusts, has unveiled its Space and Time (SXT) Trust, offering investors exposure to the platform’s native token.
Key points:
- The new Trust represents Grayscale’s latest addition to its suite of digital currency investment products.
- Investors can now gain exposure to the Space and Time blockchain’s native token, SXT.
- CoinGecko data shows SXT’s price increased by 16% over the last 24 hours.
- The Trust, a private placement, is targeted towards eligible and institutional accredited investors.
Space and Time is a layer-1 enterprise blockchain designed for real-time transaction processing, supporting smart contracts, decentralized applications (dApps), and AI integrations. It has backing from Microsoft’s M12 Ventures and is integrated with Microsoft’s Fabric platform.
A notable aspect of Grayscale’s announcement comes as U.S. regulators are increasingly considering the cryptocurrency space. The SEC, CFTC, and other relevant agencies have recently shown softer stances, replacing skeptics with digital asset industry-friendly commissioners. These agencies are allowing industry experts to weigh-in on regulatory reforms, easing concerns for compliance and investment plausibility.
“[Grayscale Space and Time Trust] provides investors access to Space and Time, a project blending blockchain with enterprise data architecture, enabling diverse Web 2.0 and Web 3.0 applications,” noted Grayscale Head of Product and Research Rayhaneh Sharif-Askary.
This latest product launch isn’t unique. Asset managers and investment firms have been rapidly expanding their crypto offerings. Canary Capital and Grayscale (for AXL and Optimism) recently introduced similar products. Broader exchange-traded fund applications for various digital assets, including meme coins and specific altcoins, are also proliferating.
Grayscale, in particular, has a history in the crypto space; its Bitcoin Trust was introduced in 2013, eventually gaining OTC trading status in 2018 and becoming a spot Bitcoin ETF listed on NYSE Arca in January 2024. It now manages over $19 billion in assets related to digital assets.
