Grayscale, one of the cryptocurrency asset management giants, has attracted attention with a new move. According to the latest developments, the company has started to focus on a well-known and well-established altcoin project. Grayscale announced this plan with its latest application to the US Securities and Exchange Commission (SEC). The company is preparing to take various steps for the Horizen (ZEN) Trust. Here are the details…
Grayscale has announced the steps it has taken regarding the Horizen Trust (ZEN) in its 8-K filing with the US SEC. The filing states that 3,565,200 shares, representing approximately 304,034 of the ZEN tokens, were issued exclusively to select “qualified investors.” The total value of these tokens is estimated at $4.7 million. This development demonstrates Grayscale’s commitment to expanding institutional crypto investment opportunities. By targeting qualified investors with the Horizen trust, the company is positioning itself as a leading player in the evolving crypto asset ecosystem.
Horizen is a blockchain network built on a cross-chain transfer protocol that enables the development of real-world applications. Initially launched in May 2017 as ZenCash, the project was rebranded as Horizen in August 2018. Horizen offers a platform that supports the creation of public or private blockchains, focusing on privacy and scalability. It also provides developers with advanced zero-knowledge tools to increase privacy in the blockchain ecosystem using a unique consensus mechanism. Horizen’s ecosystem is supported by a large, geographically diversified network of 45,000 active nodes.
Horizen aims to advance blockchain technology by focusing on research and development and aims to offer products that will provide real-world benefits. The project aims to provide optimized benefits with a permissionless blockchain network and aims to ensure continuous innovation and development in the blockchain field by creating a sustainable financing model. Horizen has the potential to make a significant impact in the industry by offering decentralized, scalable, secure and privacy-based solutions.
Grayscale recently announced new placements for qualified investors across 22 cryptocurrency trust products. These offerings include leading tokens like AAVE, AVAX, LINK, SOL, and XRP, as well as funds focused on specific sectors like decentralized finance (DeFi) and artificial intelligence (AI). Investors can subscribe to these new products based on net asset value (NAV). Grayscale also offers thematic funds like the Decentralized AI Fund and Decentralized Finance Fund, as well as single-asset trusts for emerging protocols like Bittensor, Lido DAO, and Optimism.