Grayscale, one of the cryptocurrency asset management giants, came to the agenda with its new move. According to the latest developments, Grayscale has focused on a well-established and popular altcoin project. The company revealed its latest plan with its latest application to the US Securities and Exchange Commission (SEC). Because Grayscale is preparing to take various steps for Horizen (ZEN) Trust. Here are all the details…
Grayscale files for altcoin with US SEC
Grayscale has taken steps with Horizen Trust (ZEN), as detailed in its latest 8-K filing with the US SEC. The filing reveals that the trust privately issued 3,565,200 shares, representing approximately 304,034 ZEN tokens, to select “qualified investors.” The collective value of these tokens is $4.7 million. This development highlights Grayscale’s commitment to expanding institutional crypto investment opportunities. By targeting qualified investors with the ZEN trust, the company is positioning itself as a leading player in the evolving crypto asset landscape.
Horizen is a blockchain network designed with a cross-chain transfer protocol that enables the development of real-world applications. First introduced as ZenCash in May 2017, the company rebranded as Horizen in August 2018 to emphasize its capabilities beyond just being a cryptocurrency. Horizen is renowned for its focus on privacy and scalability and offers a platform that supports public or private blockchain creation. It uses a unique consensus mechanism and provides developers with advanced zero-knowledge tools to increase privacy within the blockchain ecosystem. Horizen’s ecosystem is powered by the largest node network in the industry, consisting of approximately 45 thousand active nodes, making it a geographically diverse and decentralized network.
Horizen aims to advance blockchain technology by focusing on research and development and strives to deliver products with real-world utility. It has been meticulously developed to deliver optimized utility through a permissionless blockchain network. The network is designed to incentivize stakeholders and create a sustainable funding model, enabling continuous innovation and improvement in blockchain technology. Horizen’s commitment to research and development positions it as a progressive project in the blockchain space and has the potential to significantly impact various industries by providing decentralized, scalable, secure and privacy-based solutions.
Grayscale opens private placement in several altcoins
Meanwhile, Grayscale recently announced the opening of private placements to qualified investors for 22 cryptocurrency trust products. These offerings include mainstream tokens such as AAVE, AVAX, LINK, SOL and XRP, as well as funds focused on specific sectors such as decentralized finance (DeFi) and artificial intelligence (AI). Investors can subscribe based on net asset value (NAV). New products include thematic funds such as the Grayscale Decentralized Artificial Intelligence Fund and the Grayscale Decentralized Finance Fund. In addition, single-asset trusts for emerging protocols such as Bittensor, Lido DAO and Optimism are also part of the offering.
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