Grayscale Makes $6.3 Million Bet on Privacy Cryptocurrency Zen

Grayscale Investments, the company behind the Bitcoin Investment Trust, is creating a new fund whose sole focus is on Horizen, a little known platform that hosts a currency called Zen.

The investment is notable because some large institutions rely on Grayscale’s funds to own cryptocurrency, and because of the privacy focus of Horizen.

Grayscale’s investment came through buying $6.3 million worth of Zen tokens. Like seven other funds run by Grayscale (which is a subsidiary of the crypto conglomerate Digital Currency Group), the Zen Investment Trust is mandated to hold a single currency, and sells shares in the trust to investors.

As for Horizen, it’s a privacy-centered cryptocurrency platform that uses a technology called “zero knowledge proofs.” The proofs let users to show a transaction has taken place without revealing any additional information.

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