Grayscale launches the Horizen Trust fund that allows exposure to the crypto ZEN

Grayscale has launched the new Horizen Trust, a fund that allows qualified investors to gain exposure to the crypto ZEN, without having to purchase it. 

Grayscale and the new Horizen Trust fund to gain exposure to the crypto ZEN

Grayscale has announced its new fund Horizen Trust, to offer qualified investors the opportunity to gain exposure to the crypto ZEN. 

“Grayscale Horizen Trust offers investors exposure to $ZEN without the hassle of buying, storing, or directly safeguarding it. Open to private placement for eligible accredited investors. To learn more, consult the important information or contact us.”

Qualified investors can now access the new security and derive value from the price of Horizen (ZEN) without having to purchase, store, and safeguard the crypto. 

The shares of the Fund are designed to track the market price of ZEN, net of fees and expenses.

As of December 13, Grayscale Horizen Trust had a net asset value of $6.45 per share and $8,942,444 in assets under management.

Grayscale and the new Horizen Trust fund open to qualified investors

According to what is reported by Grayscale, the new Product did not reach its investment target, and the shares listed on OTC Market Group did not reflect the value of the asset held by the Product.

In any case, ZEN shares have been traded both at a premium and at a discount compared to the value of the asset held by the security, with sometimes substantial variations. 

Grayscale is known for being one of the 11 issuers of Bitcoin spot ETFs from January 2024, with its Grayscale Bitcoin Trust ETF (GBTC). Following this, the company then issued its Grayscale Ethereum Trust ETF (ETHE).

Recently, Grayscale has also submitted its new request to the United States Securities and Exchange Commission (SEC) for the issuance of its Solana spot ETF.

This is the Grayscale Solana Trust (GSOL) and represents a step forward in the expansion strategy of the digital currency asset management company, towards innovative financial instruments linked to the crypto world.

The price of the crypto ZEN

Horizen (ZEN) is currently at position 313 in the crypto ranking, with a total market cap of 226 million dollars.   

At the time of writing, ZEN is worth $14.36 and is in a pump of +4% over the last seven days. During the day of December 12, the price of ZEN rose up to $16.19, but its annual high was reached on December 7 at the price of $18.90.

In any case, this is not its highest price. ZEN reached its all-time high (ATH) in May 2021, at the price of $142.70.