Greyscale’s New Investment Focuses on Privacy
Digital currency asset management company Grayscale Investments, LLC just announced, in a press release obtained by BlockTelegraph, that it will be launching ZEN Investment Trust. This is the eighth single-asset investment product offered by Grayscale. It’s also the first ever that invests solely in ZEN, the digital currency focused on privacy.
ZEN is native to Horizen, which used to be known as ZenCash. Horizen is the decentralized tech platform that ensures users have full control of their own digital footprints. With Horizen, users can transfer ZEN via a public address, as they would with Bitcoin, or with a private address that projects the sender, recipient, and amount. In addition to ZEN, Horizen allows for private internet access, media sharing, file storage, and messaging.
The Managing Director of Grayscale, Michael Sonnenshein, explained that the company has been impressed with Horizen, specifically the team’s vision for ZEN to become a leader among privacy coins. He also noted that Grayscale is a leader in asset management within the emerging crypto industry. By offering the ZEN Investment Trust, it can build on this reputation and keep offering clients the “most interesting” blockchain-related projects.
Grayscale and Horizen Continuously Expanding
Horizen is similarly enthusiastic about Grayscale’s ZEN Investment Trust. President and Co-Founder of Horizon, Rob Viglione, pointed out that this trust is a significant milestone for Horizen, indicating the worldwide expansion of both the platform and services. He praised Grayscale for its “unparalleled research and due diligence on their investment products.”
Viglione added that Grayscale strives to offer professionally managed and regulated exposure to cryptocurrencies for accredited and institutional investors around the world. He explained that the values of Grayscale and Horizen align; both companies aim to encourage the growth of privacy, the blockchain, and digital currencies to a “diverse and global community.”
In addition to Grayscale’s seven other single-asset products, they also offer Digital Large Cap Fund. This is a diversified investment product providing exposure to the top-ranked digital currencies based on market cap. The previously mentioned single-asset investment products from Grayscale deliver exposure to Bitcoin, Bitcoin Cash, Ethereum Classic, Ethereum, XRP, Zcash, and Litecoin.
Grayscale’s investment products have a history of success. Within the first six months of 2018, the company raised nearly $250 million via its investment products.
Grayscale is a subsidiary of Digital Currency Group, which builds as well as invests in more than 130 blockchain and bitcoin companies across more than 30 countries. All investment products from Grayscale are available for both accredited individual investors and institutional investors. Bitcoin Investment Trust and Ethereum Classic Investment Trust are both quoted publicly and available to all institutional and individual investors via the OTCQX Best Market (as GBTC and ETCG, respectively).