Breaking News: Zcash Investment Trust has officially Filed with the SEC
In a move to attract institutional investors to the crypto-currency space. The Zcash Investment Trust has made an official filing with the Securities and Exchange Commission. This signifies that the investment trust is imminently close to going live and accepting institutional investments of over $10,000 during it’s first year. After which, the Investment Trust will be able to be publicly listed similar to the Bitcoin Investment Trust $GBTC.
Research conducted by the WhalePool Trading Group has uncovered the documents filed with the SEC to be dated October 25th of 2017 showing that $11,613,807 has been used to purchase Zcash which is currently trading at $230.44 on the popular exchange Bitfinex. Zcash is a crypto-currency which is very similar to Bitcoin but has the ability to do private transactions.
The Zcash Investment Trust is a positive sign for Zcash as institutional investors can now diversify their crypto-currency holdings beyond Bitcoin and Ethereum Classic with the Bitcoin and Ethereum Classic Investment Trusts.
The Ethereum Classic Trust SEC filing was completed in April 24th of 2017 and went live on April 26th with a tweet from @GrayscaleInvest. The Ethereum Classic Investment Trust began with $10,500,000 and currently has $36.89 Million due to the increased value of Ethereum Classic since the start of the investment trust.
The company behind the Bitcoin, Ethereum Classic, and Zcash investment trusts is Greyscale Investments which is controlled by long time Bitcoin advocate and investor Barry Silbert who has long hinted that he would create an investment trust for Zcash in Q4 of 2017. It looks like he has made good on his word and Zcash investors will likely be very happy to see the continued investment and development in the privacy focused crypto currency.