Grayscale, the world’s largest crypto-oriented asset manager, announced the creation and the launch of the Grayscale Space and Time Trust.
The purpose of this new investment vehicle is to provide investers with exposre to SXT, the native cryptocurrency behind the Space and Time Network through a fully-regulated financial product.
According to a press release shared with CryptoPotato, the trust is now open for daily subscription by eligible individual and institutional accredited investors. The trust itself will be functioning just like any other Grayscale single-asset investment trust with the distinction that it may be disclosed in the Private Placement Memorandum and that it will be only for investing in the SXT token.
Speaking on the matter was Rayhaneh Sharif-Askary, Head of Product and Research at Grayscale, who said:
“As we enter the next age of computing, transparency is paramount. Verifiable data can help ensure that we can trust the underlying datasets used for AI and smart contract applications. […] Grayscale Space and Time Trust provides investors with access to a project that combines blockchain technology with enterprise-grade data architecture, enabling a wide range of use cases across Web 2.0 and Web 3.0.”
Moreover, the Space and Time Foundation also issued a statement:
“AI and blockchain are converging around one critical need: verifiable data. Space and Time is built to solve this problem, bringing verifiability, transparency, and auditability to the data and compute that will drive the next generation of intelligent and decentralized applications.”
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