Grayscale Opens Horizen Trust to Accredited Investors
Grayscale announced that its Horizen Trust HZEN is now open to accredited investors. The company has maintained the trust for years but had not previously offered OTC trading.
Horizen recently experienced its final halving and the overall cryptocurrency bull market has given it a new bull rally. However, its token value is still far from its 2021 peak, and a full recovery seems difficult.
Grayscale Horizon Trust
According to a recent blog postal HZEN from Grayscale is now open to accredited investors. This trust product is based on Horizen (ZEN), Zero-knowledge cryptographic network.
Grayscale Maintain HZEN for many yearsalthough it’s not technically open to investors. According to the company’s statement, there are some clues as to why it started trading.
“Horizen undergoes its last halving before a major shift in the project Tokenomics. After this major milestone, there will be no more halvings due to the emission rate reduction introduced in the new model. Grayscale Horizen Trust provides investors with the opportunity to invest in ZEN without having to directly purchase, store or keep it,” the company explain on social media.
ZEN is a mineable token that runs on Halving system similar to Bitcoin. peaked in 2021, when One of the biggest winners in the field.
However, that same year it suffered a severe collapse, Barely stable by 2022. Horizen has enjoyed a new rally from the bull market; from this halving to the last halving, Grayscale is likely to anticipate future profits.
Currently, the ZEN token is worth about 10% of its 2021 peak, but this bull market has regained some forward momentum. Maybe this and the last halving created a sense of stability.
For example, Grayscale made several other Trust products publicly available before Horizen. last week it Launch of trust based on Lido DAO and Optimismand also launched XLM Trust not long ago. Additionally, the company is pursuing new ETF products, Solana ETF application 2 weeks ago. Publicly traded HZEN may just be another experiment.
On the other hand, Grayscale’s ETFs face challenges. At the beginning of this month, It sold $150 million worth of Bitcoin Although the value of the asset continues to grow.
BlackRock’s Bitcoin ETF overshadows It’s early this year and it’s Subsequent ETF products also proved inadequate. While this explanation seems plausible, it’s hard to say what Grayscale has planned for Horizen.
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