NEW YORK, May 05, 2022 (GLOBE NEWSWIRE) — Grayscale Investments®, the world’s largest digital currency asset manager, today announced that it publicly filed Registration Statements on Form 10 with the Securities and Exchange Commission (SEC) on behalf of Grayscale® Horizen Trust, Grayscale® Stellar Lumens Trust, and Grayscale® Zcash Trust.
The new Form 10 filings are voluntary and subject to SEC review. If any of the Registration Statements originally filed today become effective, it would designate the applicable product as an SEC reporting company and register its shares pursuant to Section 12(g) of the Exchange Act.* The company already has six SEC reporting products: Grayscale® Bitcoin Trust, Grayscale® Bitcoin Cash Trust, Grayscale® Digital Large Cap Fund, Grayscale® Ethereum Trust, Grayscale® Ethereum Classic Trust and Grayscale® Litecoin Trust.
If any of the Registration Statements originally filed today become effective, accredited investors who purchased shares in the applicable product’s private placement would have an earlier liquidity opportunity, as the holding period for the applicable private placement shares would be reduced from 12 months to 6 months under Rule 144 of the Securities Act.**
The products are investment products that allow investors to more effectively implement strategic and tactical asset allocations that incorporate digital assets by using the products’ shares. The products currently publish quarterly and annual reports, as well as audited financial statements pursuant to the OTC Markets Alternative Reporting Standard (ARS). Should any of the Registration Statements become effective, the applicable product would file these reports and financial statements as 10-Qs and 10-Ks with the SEC, along with current reports on Form 8-K, in addition to complying with all other obligations under the Exchange Act.
For more information, please refer to the Form 10 filing and Information Statement for Grayscale Horizen Trust, the Form 10 filing and Information Statement for Grayscale Stellar Lumens Trust, and the Form 10 filing and Information Statement for Grayscale Zcash Trust, as well as the FAQ page.
*This voluntary filing should not be confused as an effort to classify the applicable product as an exchange traded fund (ETF). The structure of the applicable product will not change and it will continue to not operate a redemption program nor trade on a national securities exchange.
This press release is not an offer to sell or the solicitation of an offer to buy any security in any jurisdiction where such an offer or solicitation would be illegal, nor shall there be any sale of any security in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of that jurisdiction.
**The holding period reduction goes into effect after the applicable product has been a reporting company for at least 90 days and has satisfied the other requirements under Rule 144 of the Securities Act.
About Grayscale Investments®
Grayscale enables investors to access the digital economy through a family of secure, regulated, and future-forward investment products. Founded in 2013, Grayscale has a proven track record and unrivaled expertise as the world’s largest digital currency asset manager. Investors, advisors, and allocators turn to Grayscale’s private placements, public quotations, and ETFs for single asset, diversified, and thematic exposure. Grayscale products are distributed by Genesis Global Trading, Inc. (Member FINRA/SIPC, MSRB Registered) or Foreside Fund Services, LLC. For more information, please follow @Grayscale or visit grayscale.com.