Official announcements from Grayscale or other major cryptocurrency investment firms

Grayscale Launches Horizen Trust for ZEN, Issuing 3.56M Shares Worth $4.7M, 304,034 ZEN Tokens, Price Up 150%

Dec 24, 2024, 04:00 PM

Grayscale has officially launched the Horizen Trust for the cryptocurrency ZEN, as indicated by a recent 8-K filing with the U.S. Securities and Exchange Commission (SEC). The filing disclosed that Grayscale privately issued 3,565,200 shares to qualified investors, which corresponds to approximately 304,034 ZEN tokens valued at $4,712,299. Following the announcement, the price of ZEN has surged over 150%, reflecting increased investor interest and the potential for institutional investment. The recent changes in Horizen's tokenomics model, which has shifted to a deflationary structure, further contribute to the heightened market activity surrounding ZEN. Other cryptocurrencies, such as $AAVE, $LINK, and $UXLINK, have also seen notable price increases in the current market environment.