Grayscale Opens Horizen Trust to Accredited Investors

HZEN is tied to Horizen (ZEN), a blockchain network using zero-knowledge cryptography. The move comes after Horizen’s recent final halving and amid a broader crypto bull market. Despite these developments, ZEN’s value remains far below its 2021 peak, recovering only about 10% so far.

Horizen operates on a halving model similar to Bitcoin, with its token reaching significant heights in 2021 before experiencing a sharp crash. The recent bull market and the halving may have influenced Grayscale’s decision to make HZEN available, signaling potential optimism for future growth.

Grayscale has been active in expanding its offerings. Last week, it launched Trusts based on Lido DAO and Optimism, adding to its growing portfolio. The firm is also pursuing ETF opportunities, including a Solana ETF application submitted two weeks ago.

However, challenges remain. Earlier this month, Grayscale sold $150 million in Bitcoin, raising questions about its strategy. The firm’s Bitcoin ETF efforts have struggled, with competitors like BlackRock taking the lead earlier this year.

Grayscale’s plans for Horizen are still unclear. Whether HZEN will prove successful in this new phase remains to be seen.