Grayscale announced that HZEN, its Horizen Trust, is now open to accredited investors. The firm has maintained this trust for several years, but until now it has not been available over the counter.
Horizen recently underwent a final halving and the overall cryptocurrency bull market has given it a new bullish rally. However, its token value is still far from its 2021 peak and a full recovery appears difficult.
Grayscale Horizon Trust
According to a recent Grayscale blog post, HZEN is now available to accredited investors. This Trust product is based on Horizen (ZEN), a zero-knowledge cryptographic network.
Grayscale has supported HZEN for several years, although it has not technically been open to investors. Judging by the company’s statements, one can understand why it started trading.
“Horizen has undergone its final halving before a major transition in the project’s tokenomics. After this milestone, the reduction will no longer be halved, as the new model assumes lower emissions. Grayscale Horizen Trust offers investors access to ZEN without the hassle of directly purchasing, holding or holding it,” the firm said on social media.
ZEN is a mining token that operates on a halving system similar to Bitcoin. It reached its peak in 2021 when it became one of the biggest players in the industry.
However, it suffered a massive crash that same year, barely stabilizing by 2022. Horizen experienced a new rally in the bull market; Between now and the latest halving, Grayscale can foresee future profits.
The ZEN token is currently trading at about 10% of its 2021 peak, but the bull market has regained some forward momentum. Perhaps this and the latest halving have created a sense of stability.
For example, Grayscale publicly offered several other Trust products before Horizen. Last week he launched trusts based on Lido DAO and Optimism, and shortly before that he launched the XLM Trust. The firm is also considering new ETF offerings, having filed for the Solana ETF two weeks ago. Publicly traded HZEN shares could be another experiment.
Grayscale’s ETFs, on the other hand, are facing challenges. Earlier this month, the company sold $150 million worth of Bitcoin despite the asset’s rising value.
BlackRock eclipsed its Bitcoin ETF earlier this year, and subsequent ETF offerings have also been inadequate. While this explanation is plausible, it’s hard to say what Grayscale has planned for Horizen.
