Grayscale Investments, popular for the Bitcoin Investment Trust, has announced that they will be launching an investment fund for ZenCash.
ZenCash [ZEN], currently known as Horizen [ZEN], will become the 9th investment product on the platform. The product is set to launch in the third quarter.
They announced on their platform:
“Horizen, formerly ZenCash, is thrilled to announced the launch of Grayscale’s ZEN Investment Trust… the ZEN Investment Trust is perfect vehicle for institutional and established retail investors to invest in our vision”
The Managing Director of Grayscale, Micheal Sonnenshein also spoke about the launch of the new product during an interview with Yahoo Finance. He said that the investment firm has been interested and eager around the concept of financial privacy, which is wanted by individuals, for a long time.
Micheal further adds that some individuals are not aware of the need for a financial privacy in the current world, with the existence of Facebook, Equifax and various kinds of hacks. He said that the firm started to take interest in privacy coins and protocols last year.
The Managing Director also spoke about the firm’s investment in ZCash [ZEC], another well-known privacy coin. He said:
“We’re an investor in ZCash, which is a company that is doing phenomenally and we subsequently launched a ZCash Investment Trust so investors could begin to participate in that protocol.”
ZenCash Investment Fund is going to be launched by the firm because it is a privacy protocol, as stated by the Micheal. The protocol is a ‘privacy focused digital stored in value’ and a payment rail. Apart from this, the other applications of ZenCash which the firm is ‘excited’ about are messaging, file storage and internet access.
Micheal further added that the along with the launch of ZenCash Investment Fund, the firm will also announce an investment thesis which details the firm’s ‘conviction in ZenCash’.
This was followed by the Managing Director being questioned about the basis on which the firm chooses currencies and the decision involved in the process. He said:
“So I think for us, we are generally trying to be agnostic about the digital currency landscape. The whole family of Grayscale products really allows investors to choose tools in the Grayscale tool kit. So to speak, right. We have a litecoin vehicle, we have an XRP vehicle, a Zcash vehicle, so on and so forth.”
He continued to say that the firm favors protocols which have fixed supplies, decentralized governance and applications which the firm can rely on.
The post Horizen [ZEN]: Grayscale Investment adds another privacy coin to their investment funds appeared first on AMBCrypto.
Source: AMBcrypto
Original Post: Horizen [ZEN]: Grayscale Investment adds another privacy coin to their investment funds
