On September 6, 2018, Grayscale, the world’s largest digital currency asset manager, has launched new investments for a decentralized cryptocurrency Zcash.
Zencash is known as the popular privacy coin. Zen is a decentralized platform and with the help of this native cryptocurrency of the horizen network users can control and monetize their digital footprint with services including internet browsing, messaging and privacy-enabled file storage.
The products of Grayscale are limited for both institutional and accredited investors for their first year of operation. The ultimate goal is to open them up to retail investors once that period has gone away owing to achieve it successfully with the Bitcoin Investment Trust and Ethereum Classic Investment Trust.
Zcash, a decentralized cryptocurrency, was launched in May 2017. A current market capitalization of this virtual currency is $80 million.
The Zen investment is the latest single-asset investment trust launched by Grayscale following other trusts such as bitcoin cash, ethereum, Litecoin and XRP, launched in April. Additionally, it gives a diversified fund which provides exposure to the top crypto assets indicated by the market capitalization, according to a report by Forbes.
Barry Silbert, the founder, and CEO of DCG said: “financial privacy is going to become a really, really important thing not just in emerging markets, but in the U.S. as well.”
On Thursday, a press release noted that in the first six months of 2018 Grayscale raised $250 million for its investment trusts. It is believed that the move opens doors for direct investor funds towards a hidden gem.
Digital Currency Group is a parent company of Grayscale has announced that it was adding zen to its “conviction list” of cryptocurrencies, according to a report by Coindesk.
Rob Viglione, the co-founder, and president of ZenCash a decentralized cryptocurrency said, “the trust marks a significant milestone for the Horizen platform, which develops and maintains the cryptocurrency.”
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