ZEN Investment Trust: Grayscale launches eighth single-asset investment vehicle

Crypto asset management firm Grayscale Investments has announced the launch of ZEN Investment Trust, a single-asset investment vehicle solely comprised of ZEN, one of the top 100 cryptocurrencies by market cap.

The new fund is the eighth single-asset investment product introduced by Grayscale, and the first security solely invested in ZEN.

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.”

Grayscale provides investors access to the digital currency asset class through its family of investment products, including the first two publicly-quoted digital currency investment vehicles: Bitcoin Investment Trust and Ethereum Classic Investment Trust. It also 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 now ZEN.

In addition, Grayscale also sponsors Digital Large Cap Fund, a diversified investment product that provides exposure to the top digital currencies by market cap.

“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 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. In its official release, it said that it raised nearly $250 million across its family of investment products in the first six months of 2018.