Grayscale’s SEC Filings Leave These Cryptos Green

Digital asset manager Grayscale Investments said it has filed registration statements for three crypto trusts with the U.S. SEC. The list of trusts includes products tracking Horizen (ZEN), Stellar Lumens Trust (XLM), and Zcash (ZEC).

The move was received positively by the market, with the three tokens logging large gains in the past few hours.

Zcash jumps by 10% in last 24 hours

Grayscale’s Horizen Trust price is already up by almost 1% in the morning trade. It is trading at a price of $2.60. The fund allows the investors to put their money conveniently in the Zen tokens. The Zen token prices have jumped by 8.6% since the announcement. Its 24 hour trading volume is up 27% to reach $39.2 million.

According to Grayscale, Horizen Trust is monitoring the $19.5 million of the invested money. Similarly, Stellar Lumens Trust and Zcash Trust are dealing with $13.9 million and $44.4 million of assets, respectively.

The other Cryptocurrencies related to the different trusts like XLM and ZEC are also showing a positive response to the news. Stellar (XLM) token is up by over 4% in the last 24 hours. While Zcash (ZEC) token has jumped by around 10% over the past 24 hours.

Grayscale consideration list holds 25 crypto

The world’s largest digital currency asset manager explained that Form 10 filings are voluntary and subject to SEC review. Meanwhile, SEC’s Form 10 is also known for the Registration of Securities. It is required to fill out the form in order to go for potential trading on U.S. exchanges.

Grayscale is already holding multiple trusts backing the different cryptocurrencies. The list includes Bitcoin (BTC), Bitcoin Cash (BCH), Ethereum (ETH), Ethereum Classic (ETC), and Litecoin (LTC).

As per a report, Grayscale showed its investment interest in over 25 digital assets by adding them to their consideration list. The list holds the tokens from different DeFi, non fungible token (NFT) and Metaverse projects. From the DeFi sectors, Algorand (ALGO) and Convex (CVX) made it to the list. On the other hand, Metaverse projects of Axie Infinity (AXS), Sandbox (SAND) and Enjin (ENJ) have grabbed Grayscale’s interest.

Ashish believes in Decentralisation and has a keen interest in evolving Blockchain technology, Cryptocurrency ecosystem, and NFTs. He aims to create awareness around the growing Crypto industry through his writings and analysis. When he is not writing, he is playing video games, watching some thriller movie, or is out for some outdoor sports. Reach me at [email protected]

The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.