Grayscale has announced that HZEN, its Horizen Fund, is now open to accredited investors. The Company has maintained this Fund for many years, but has not previously been listed on the OTC.
Recently, Horizen went through its last halving, and the cryptocurrency market as a whole has given it a fresh boost. However, its token value is still far from its 2021 peak, and a full recovery looks difficult.
Grayscale Horizen Fund
According to one post Recent blog from Grayscale, HZEN is now available to accredited investors. This fund product is based on Horizen (ZEN), a cryptographic network that does not provide native data.
Grayscale has maintained HZEN for many years, even though it has not officially opened to investors. Based on the company’s announcement, there is some doubt as to why it started trading.
“Horizen has undergone its final halving ahead of a major shift in the project’s tokenomics. After this milestone, there will be no more halvings, as the new model introduces a decreasing issuance rate. Grayscale’s Horizen Fund provides investors with access to ZEN without having to purchase, store, or maintain it themselves,” the company said. share on social networks.
ZEN is a mineable token that operates on a halving system similar to Bitcoin. It peaked in 2021 as one of the biggest winners in this space.
However, it experienced a sharp decline that same year, mostly plateauing through 2022. Horizen benefited from the market’s renewed rally; Between this bull run and the final halving, Grayscale is predictable in its future profits.
Currently, the value of the ZEN Token is around 10% of its 2021 peak, although this bull market has helped restore some of its upward momentum. Perhaps this and the halving have finally created a sense of stability.
For example, Grayscale publicly announced many other Fund products before Horizen. Last week, they launched the Lido DAO and Optimism-based Funds, and also launched the XLM Fund shortly before that. Additionally, the company is pursuing new ETF products, with a Solana ETF filing two weeks ago. Publicly listed HZEN could be just another experiment.
In contrast, Grayscale ETFs are facing challenges. Earlier this month, they sold $150 million in Bitcoin even though the asset’s value is still rising.
BlackRock eclipsed the advantage of its Bitcoin ETF early this year, and subsequent ETF products also fell short of expectations. While this explanation seems plausible, it is difficult to determine what Grayscale’s plans are for Horizen.