Grayscale’s Horizen Trust (HZEN) is now accessible to accredited investors, providing investors with exposure to ZEN without the complications of direct ownership.
Grayscale has disclosed that its Horizen Trust, HZEN, is now accessible to accredited investors. The business has had this Trust for some years, but it was not previously offered over the counter.
Horizen has recently experienced its final halving, and the broader crypto bull market has provided it with a new bull rally. Nevertheless, the token value is still a significant distance from its 2021 the peak, and it appears that a complete recovery is a challenge.
In accordance with a recent blog post from Grayscale, accredited investors are now able to access HZEN. Horizen (ZEN) is the foundation of this Trust product, which is a zero-knowledge cryptography network.
Grayscale has maintained HZEN for an extended period of time, despite the fact that it was not technically accessible to investors. The company’s statements provide a few indications as to why it commenced trading.
“Horizen’s tokenomics underwent a significant transformation prior to its most recent halving. The new model will introduce a declining emission rate, which will result in the cessation of halvings following this significant milestone. Greyscale Horizen Trust provides investors with the opportunity to invest in ZEN without the need to purchase, store, or safeguard it directly,” according to a statement on its social media platform.
A token that is mineable and operates on a halving system similar to Bitcoin is known as ZEN. It achieved its highest point in 2021, during which time it was one of the most significant gainers in the sector.
Nevertheless, it experienced an unprecedented decline that year, and it only just managed to regain its equilibrium by 2022. Grayscale may anticipate future profits between this and the most recent halving, as Horizen has experienced a new rally from the bull market.
At present, the ZEN token’s value is approximately 10% of its 2021 peak; however, this bull market has regained some forward momentum. It is possible that this, in conjunction with the ultimate halving, has fostered a sense of stability.
For instance, Grayscale publicly promoted numerous other Trust products prior to Horizen. Shortly prior to the introduction of Trusts based on Lido DAO and Optimism last week, it also introduced an XLM Trust. Furthermore, the organization is currently in the process of developing new exchange-traded funds (ETFs), including the submission of a Solana ETF application two weeks ago. Publicly traded HZEN may be merely another experiment.
Conversely, Grayscale’s exchange-traded funds (ETFs) are encountering obstacles. Despite the asset’s increasing value, it sold $150 million in Bitcoin earlier this month.
At the outset of the year, BlackRock’s Bitcoin ETF was overshadowed, and its subsequent ETF offerings have also been inadequate. Despite the plausibility of this explanation, it is currently challenging to determine Grayscale’s intentions for Horizen.