Grayscale to Launch its 9th Crypto Investment Fund
Grayscale Investments LLC, the company behind 7 single crypto-asset investment funds and 1 diversified crypto investment product, has announced a new product. At the recent Yahoo Finance’s All Market Summit, Michael Sonnenshein – MD Grayscale, announced the Zencash Investment Trust.
This will be the 9th crypto investment fund by Grayscale. The fund will be focused on the privacy-coin Zencash (ZEN), and is expected to launch in the third quarter this year.
Barry Silbert, founder, and CEO of Digital Currency Group (Grayscale’s parent company), also tweeted:
Upon launch, the Zencash Investment Trust fund will be available to accredited investors only. After a year, the fund will be open to the general public for investments.
Privacy Coins Taking Center Stage
This is not the first time that Grayscale has introduced a fund based on a privacy coin. Their Zcash Investment Trust, also a privacy-coin based product, has been active since October 24th 2017. The recent escalation of privacy concerns, such as the Equifax data breach and the Coinrail exchange hack incident, have piqued investor interest in privacy coins such as Monero (XMR), Zcash (ZEC), Dash (DASH), PIVX (PIVX), and Zencash (ZEN).
Zencash (ZEN) is a privacy-based blockchain project that has been built on zero-knowledge cryptography. ZEN provides a secure and private platform that promoting a peer-to-peer system for anything concerning money, messages, and media. Zen uses zk-SNARKS with additional layers of node encryption, domain fronting, and IPFS to provide a more secure system to its users. The total supply of Zencash is capped at 21 million.