Grayscale Investments, a cryptocurrency-focused investment fund, announced today that it plans to launch its ninth product, a ZenCash Investment Trust, in the third quarter of this year.
ANNOUNCEMENT: We are excited to share that we will launch our 9th product, ZenCash Investment Trust, during Q3!
— Grayscale (@GrayscaleInvest) June 14, 2018
The announcement, which was made by Grayscale Managing Director Michael Sonnenshein at Yahoo Finance’s All Market Summit: Crypto in San Francisco, marks another major milestone for the privacy-centric cryptocurrency, which was also recently listed on Binance.
During the announcement, Sonnenshien cites the current issues related to data privacy and security as the main driver behind the firm’s privacy-focused cryptocurrency investments. Grayscale already operates an Investment Trust for Zcash, another privacy cryptocurrency and the basis of the ZenCash core code.
Last April, when speaking at the Stocktoberfest East conference in New York City, Grayscale and Digital Currency Group founder Barry Silbert revealed that ZenCash has made it onto the firm’s conviction list, which means that they have invested a “meaningful” amount of money into the project.
Grayscale’s Investment Trusts offer institutional investors the opportunity to gain exposure to altcoins like ZenCash without needing to directly purchase the digital assets, which ultimately works to boost adoption and awareness of these coins. As more institutional investors move into the space, these sort of investment vehicles will offer a unique method of portfolio diversification.
Grayscale’s products are only available to accredited investors for the first year but are offered to the general public following the lockout period.
More on ZenCash
ZenCash (ZEN) is a secure and private platform for money, messages, and media. An ambitious project with a strong R&D focus, ZenCash is building out a suite of features for its platform, all with an underlying element of privacy. ZenCash is a fork of Zclassic (itself a fork of Zcash), but with a few distinct differences, namely: secure messaging, a voting and proposal system, and a 12% miners fee for the duration of the project. (more)