TL;DR
- Grayscale Investments filed Form 8-K for Horizen Trust, revealing the issuance of 3,565,200 shares backed by 304,034 ZEN tokens.
- Horizen Trust offers accredited investors secure and regulated access to the Horizen blockchain platform, featuring a mechanism to protect against market volatility.
- In 2024, Grayscale expanded its portfolio with new trusts, including Sky and Bittensor.
Grayscale Investments continues to strengthen its cryptocurrency product offerings. The firm has submitted Form 8-K to the United States Securities and Exchange Commission (SEC) for its Horizen Trust.
The company aims to fully align with regulatory compliance and maintain high transparency with its investors. At the same time, it continues to expand its portfolio of products, offering new options for different capital groups.
Form 8-K is a mandatory requirement for companies to inform the public about significant events. In this case, the filing reveals that Horizen Trust issued 3,565,200 shares backed by 304,034 ZEN tokens, with an estimated total value of $4.7 million. This had a positive impact on the market, reflected in a 30% increase in the price of ZEN following the announcement.
Horizen Trust offers accredited investors a secure and regulated vehicle to access the Horizen blockchain platform. Designed as a scalable and privacy-focused network, Horizen enables the deployment of decentralized applications across various sectors. Investors acquire shares in blocks of 100 units, backed by an equivalent amount of ZEN tokens, providing a direct and transparent connection between the asset and the investment product.
Grayscale Protects Its Investors
A crucial aspect of this trust is its ability to suspend or halt share issuance under exceptional circumstances, such as network disruptions or hard forks. This mechanism operates as a security measure to protect investors from the volatility of the crypto ecosystem, ensuring the operational stability of the trust.
In addition to Horizen Trust, Grayscale has introduced other innovations. In 2024, the company launched new trusts, including Sky (formerly MakerDAO), Bittensor, and a trust focused on the native tokens of the Sui protocol. These complement its flagship Bitcoin Trust (GBTC) and Ethereum Trust (ETHE), allowing the firm to offer a broad range of services and products, solidifying its position as both a pioneer and leader in the industry.
Currently, Horizen Trust manages assets valued at approximately $28.4 million and is trading at $5.30 per share.
