Cryptocurrency-focused asset manager Grayscale announced its trust in space and time on Tuesday, adding it to its list of crypto-centric investment products offered by publishers seeking to deal with burgeoning demand.
Trust offers exposure to native tokens, SXT and grayscale in the blockchain of space and time I said in a statement on Tuesday.
Space and Time is a Layer-1 blockchain aimed at providing real-time database processing According to its website, smart contracts, distributed applications and artificial intelligence tools. The network is supported by Microsoft’s M12 Ventures Fund and is integrated into Microsoft’s Fabric Data Analytics platform.
SXT recently rose 16% to $0.076, according to data provider Coingecko at Crypto Markets.
“Grayscale Space and Time Trust provides investors with access to projects that combine blockchain technology with enterprise-grade data architectures, enabling a wide range of use cases with Web 2.0 and Web 3.0.”
The private placement, space and time trust, is available only with daily subscriptions by eligible investors and certified institutional investors, Grayscale said.
The trust’s debut comes as crypto-centric asset managers and traditional financial services companies will step up the launch of investment products as U.S. regulators have eased their stance on digital assets.
Since the beginning of this year, two major federal regulators in the Web3 industry (Securities and Exchange Commission and Commodity Futures Trade Commission) have stripped off their crypto-skeptical staff and appointed several digital asset committee members. The agency also allows cryptocurrency executives and other experts We place emphasis on ongoing regulatory reforms It could benefit their industry.
The changes in regulations are consistent with a surge in new crypto-based investment offerings in the US
Various asset managers have introduced private trust based on virtual tokens, and Canary capital and grayscale have debuted on AXL and optimism based on the last six months respectively.
Meanwhile, investment companies have also flooded regulatory desks with applications of exchangers that track the prices of various cryptocurrencies, including official meme coins such as Trump and Dogecoin, as well as altcoins such as aptos, sui, xrp and solarana.
In 2013, Grayscale debuted Bitcoin Trust as a private placement. Two years later, the trust became a public fund in the commercial market. The fund has been approved to operate as Spot the Bitcoin ETF listed on the NYSE ARCA in January 2024I’ll manage it Over $19 billion in assets.
Edited by James Rubin
