Grayscale, a leading asset management firm in the cryptocurrency sector, has announced the launch of the Grayscale Space and Time Trust, an investment product providing exposure to Space and Time's native token, SXT. This new trust is available to eligible individual and institutional investors, allowing them to invest in the altcoin that is gaining traction due to its innovative data architecture and blockchain integration.
Space and Time, a project backed by Microsoft's venture capital arm M1, functions as a decentralized data warehouse supporting AI and smart contract applications. Its focus on providing verifiable data is positioned as a crucial solution where AI and blockchain converge, aiming to reduce reliance on centralized tech giants by decentralizing data control.
Rayhaneh Sharif-Askary, Grayscale's Head of Product and Research, emphasized the importance of transparency and trust in datasets for AI and smart contracts. The trust will enable professional traders and investors to gain exposure to SXT, which plays a key role in securing the network and facilitating payments for data processing. Following the announcement, SXT experienced a price increase exceeding 15% within 24 hours, reflecting market enthusiasm for this new investment opportunity.