Digital asset manager Grayscale Investments has reportedly filed registration statements with the US SEC for three crypto trusts. Among the investment products for which the investment giant presented a statement were products that tracked Horizen (ZEN), Stellar Lumens (XLM), and Zcash (ZEC).
The company’s move was positively received by the market, and the three tokens posted huge gains within hours of the news being announced. However, crypto assets have not been able to defy the downtrend in the market.
Zcash is up over 15 percent
The price of Grayscale’s Horizen Trust was up almost 1% in morning trading and was trading at $2.60, but the price of the t-shirt fell as low as $2.31. As with Grayscale’s other products, the fund allows investors to conveniently put their money in Zen tokens, avoiding the risks of real cryptocurrencies.
of Horizen (ZEN) After the announcement, the price increased by about 13 percent and reached $ 34.73. In addition, the 24-hour trading volume of the altcoin, which succumbed to the market trend and declined to $ 30, increased by 28 percent to $ 41.1 million.
According to Grayscale, Horizen Trust is tracking $19.5 million of the money invested. Similarly, the Stellar Lumens Trust and Zcash Trust are dealing with $13.9 million and $44.4 million in assets, respectively.
Other cryptocurrencies related to the firm’s other new trusts, such as XLM and ZEC, also responded positively to the news. Stellar (XLM) While the token increased by about 6 percent during the day, Zcash (ZEC) The token, on the other hand, has increased by over 15% in the last 24 hours. Both cryptocurrencies lost the vast majority of their gains.
Grayscale has 25 cryptos on its rubric.
Grayscale already has investment products for 24 digital assets supporting different crypto projects, including top cryptocurrencies Bitcoin (BTC) and Ethereum (ETH) investment products.
In addition to these, the company announced earlier this year that Grayscale; Cosmos (ATOM) and Phantom (FTM) He shared a list of “Assets Under Evaluation”, which includes 25 crypto assets he considers as new investment products, including popular altcoins such as There are also many well-known projects among the 25 new cryptos under review by Grayscale.
“’Assets Under Consideration’ lists some digital assets that are not currently included in a Graysclae investment product, but that came to our attention as part of our research on this industry and that our team has identified as possible candidates for inclusion as a future investment product.”
The list includes tokens from many different DeFi, non-fungible token (NFT) and metaverse projects. Popular altcoins in DeFi industries Algorand (ALGO) and Convex (CVX) While taking its place on the list, the investment giant Axie Infinity (AXS), Sandbox and Enjin (ENJ) He is also interested in metaverse projects such as
Other assets of interest to the platform include the following cryptocurrencies:
You can check the price movements here.
Disclaimer: What is written here is not investment advice. Cryptocurrency investments are high-risk investments. Every investment decision is under the individual’s own responsibility. Finally, KoinFinans and the author of this content cannot be held responsible for personal investment decisions.