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Grayscale Issues $4.7M in ZEN Shares to Qualified Investors
In a recent development, Grayscale has issued 3,565,200 shares of its Horizen Trust (ZEN) to qualified investors. The move comes as the company continues to make strides in expanding institutional crypto investment opportunities.
As revealed through an 8-K filing with the US SEC, the private issuance represents approximately $4.7 million worth of ZEN tokens. It is unclear at this time which specific investors have received these shares or if they will be available for public trading.
Grayscale has positioned itself as a leading player in the evolving digital asset landscape by targeting qualified investors with its ZEN trust. This move aligns with the company’s commitment to providing innovative investment opportunities in the crypto space.
The implications of this issuance are significant, as it underscores Grayscale’s dedication to fostering institutional investment in cryptocurrency. The announcement comes at a critical time for the market, as many institutions are beginning to re-engage with digital assets following a tumultuous year.
Grayscale’s ZEN trust has been designed to provide investors with exposure to Horizen’s native token, ZEN. With this move, Grayscale further solidifies its position in the burgeoning institutional crypto investment space.
The company’s commitment to catering to qualified investors highlights its understanding of the growing demand for sophisticated and accessible crypto investment options.
Source: coinpedia.org
