NEW YORK, Sept. 6, 2018 /PRNewswire/ -- Grayscale Investments, LLC, a global leader in digital currency asset management, today announced the launch of Zen Investment Trust, a single-asset investment vehicle solely comprised of ZEN, a privacy-focused digital currency. Zen Investment Trust is the eighth single-asset investment product introduced by Grayscale, and the first security solely invested in ZEN. In addition to its single-asset products, Grayscale also manages Digital Large Cap Fund™, a diversified investment product that provides exposure to the top digital currencies by market cap.
ZEN is a privacy-oriented digital currency native to Horizen (formerly ZenCash), a decentralized technology platform that provides users with complete control of their digital footprint. Horizen users can transfer ZEN using both public addresses – similar to bitcoin – and private addresses wherein the sender, recipient, and amount are shielded. Beyond the ZEN currency, the Horizen platform enables private messaging, file storage, media sharing, and internet access.
"We've been very impressed with the Horizen team and its vision for ZEN as a leading privacy coin," said Michael Sonnenshein, Managing Director of Grayscale. "Grayscale is at the forefront of asset management in this emerging industry, and we will continue to offer our clients access to the most interesting blockchain projects in the world."
"The launch of a Zen Investment Trust on Grayscale's platform marks a significant milestone in the continued global expansion of the Horizen platform and the services we offer," said Rob Viglione, President and Co-Founder, Horizen. "Grayscale conducts unparalleled research and due diligence on their investment products, striving to offer regulated and professionally managed exposure to the digital currency market for institutional and accredited investors worldwide. Their values align seamlessly with Horizen's mission to promote the growth of digital currencies, blockchain, and privacy to a diverse and global community."
Grayscale sponsors single-asset investment products that provide exposure to Bitcoin (BTC), Bitcoin Cash (BCH), Ethereum (ETH), Ethereum Classic (ETC), Litecoin (LTC), XRP, Zcash (ZEC), and ZEN. In the first six months of 2018, Grayscale raised nearly $250 million across its family of investment products.
Grayscale's investment products are available to institutional and accredited individual investors. Bitcoin Investment Trust™ (OTCQX: GBTC) and Ethereum Classic Investment Trust™ (OTCQX: ETCG) are also publicly quoted and available to all individual and institutional investors on the OTCQX® Best Market.
Grayscale is a wholly-owned subsidiary of Digital Currency Group, which builds and invests in more than 130 bitcoin and blockchain companies in more than 30 countries around the world.
About Grayscale Investments
Established in 2013 by Digital Currency Group, Grayscale Investments, LLC is a trusted authority on digital currency investing. Grayscale provides secure access to the digital currency asset class through its single-asset and diversified investment products, including Bitcoin Investment Trust™ (OTCQX: GBTC) and Digital Large Cap Fund™. For more information on Grayscale, please visit www.grayscale.co.
Horizen is a technology platform that provides everyone with privacy and complete control of their digital footprint. Launched in May 2017, the leading-edge platform enables real-life uses beyond the ZEN currency, including the ability to privately chat with others and eventually to enable users to publish information and go anywhere on the web, with complete privacy. Horizen is working toward the day when anyone will be able to build privacy-based applications on the Horizen Platform and generate income from them. This will allow Horizen to bring thousands of real-life services that offer people the freedom and everyday utility unlike anything ever available to them before. For more information, visit www.horizen.global.
SOURCE Grayscale Investments, LLC