Grayscale Submitted Grayscale Horizen Trust 8-K Form to the SEC

Key Points:

• Grayscale issued 3,565,200 shares tied to 304,034 ZEN tokens, valued at $4.7 million, through its regulated Horizen Trust.
• The Grayscale Horizen Trust offers secure, compliant access to ZEN, the native token of the privacy-focused Horizen blockchain.

Grayscale Investments has taken a significant step in expanding its crypto investment products by submitting an 8-K form for the Grayscale Horizen Trust (HZEN) to the U.S. Securities and Exchange Commission (SEC).

Read more: Grayscale Horizen Trust Is Now Opened to Qualified Investors 

Grayscale Files SEC Form for Grayscale Horizen Trust Shares

The filing showed the trust had issued 3,565,200 shares in a private offering to accredited investors. Those equalled approximately 304,034 ZEN tokens worth $4.7 million.

The Grayscale Horizen Trust offers qualified investors an unclad, regulated method to achieve exposure to Horizen’s blockchain platform, ZEN tokens. Horizen, at its core, is engineered to be the scalable, private-centric blockchain that enables a robust set of diverse, decentralized applications. According to Grayscale, this will provide a safe, compliant vehicle for those looking to capitalize on the promise of this groundbreaking blockchain.

Grayscale Bolsters Portfolio with Fresh Crypto Trusts

At prices as of December 24, the Grayscale Horizen Trust changed hands at $5.30 per share for assets under management of $28.4 million. It’s one more addition to Grayscale’s already-healthy suite of regulated crypto investment products and one of those flagship products that also see the Bitcoin and Ethereum trusts, GBTC and ETHE, respectively.

Grayscale has been aggressively expanding its portfolio. It introduced three more this year: Sky, formerly MakerDAO, Bittensor, and Sui protocol-native token-focused trusts.