New Application to SEC for Altcoin Skyrockets the Price: Institutional Investors May Rush In! - Coin Bulletin

Grayscale fueled the rise in price with its new application to the SEC for the Horizen Trust fund.

Cryptocurrency asset management company Grayscale has filed a new 8-K form with the SEC on behalf of the Horizen Foundation to provide institutional exposure to Horizen (ZEN).

Last week, it announced the opening of its Horizen Trust fund to qualified investors. Since that day, the increasing interest and the recent application have step by step pushed up the ZEN price.

The company announced at that time that as of December 13th, it held a total asset value of 8.942 million dollars under the management of Grayscale Horizen Trust, which included ZEN.

The net asset value per share of Trust was announced as $6.45. ZEN has managed to delight its investors by rising 164% in the last 1 week.

According to CoinGecko data, ZEN, which has shown a 33% increase in the last 24 hours, is currently trading at $38.2.

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