Three Additional Grayscale Products Now Trading on OTCQX Market

Trading has commenced for Grayscale Zcash Trust, Grayscale Stellar Lumens Trust, and Grayscale Horizen Trust

New York, Oct. 18, 2021 (GLOBE NEWSWIRE) -- Grayscale Investments, the world’s largest digital currency asset manager, today announced that Grayscale Zcash Trust, Grayscale Stellar Lumens Trust, and Grayscale Horizen Trust (the Trusts) have begun trading on the OTCQX Best Market, the top tier operated by OTC Markets Group Inc., under symbols ZCSH, GXLM, and HZEN, respectively. 

The Trusts are open-ended trusts sponsored by Grayscale and are intended to enable exposure to the price movement of the Trusts’ underlying assets through an investment vehicle, avoiding the challenges of buying, storing, and safekeeping the assets directly. 

“This is an important milestone for digital currencies, and demonstrates Grayscale’s continued commitment to moving each of our products from a private placement to the public markets,” said Craig Salm, Grayscale’s Head of Legal. “For the past six years, investors have leveraged Grayscale products and the OTCQX Market to gain diversified exposure to the digital currency ecosystem, and we are pleased that they will now – for the first time – be able to access Horizen (HZEN), Stellar Lumens (GXLM), and Zcash (ZCSH) as publicly-quoted securities.” 

SECONDARY MARKETS for the PRIVATE PLACEMENTS
Grayscale Zcash Trust (ZCSH), Grayscale Stellar Lumens Trust (GXLM), and Grayscale Horizen Trust (HZEN) have offered a private placement to accredited investors since October 2017, December 2018, and August 2018, respectively. 

As of October 17, 2021, there were 3,777,700 Shares outstanding of Grayscale Zcash Trust and each share represented ownership of 0.09052055 ZEC. As of October 17, 2021, there were 824,600 Shares outstanding of Grayscale Stellar Lumens Trust and each share represented ownership of 93.0860093 XLM. As of October 17, 2021, there were 6,838,000 Shares outstanding of Grayscale Horizen Trust and each share represented ownership of 0.09231138 ZEN. Shares created through the Trusts’ respective private placements become eligible to sell into the public market after a statutory one-year holding period under Rule 144 of the Securities Act.*