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Grayscale has filed with the SEC to launch a new trust for the HRZN token, offering investors exposure to the tokenized stock market.
Grayscale, the world's largest digital currency asset manager, has filed an application with the U.S. Securities and Exchange Commission (SEC) to launch a new trust for the HRZN token.
The trust will offer investors exposure to the tokenized stock market, and will be traded on the CBOE BZX Exchange.
According to the filing, the Grayscale HRZN Trust will be an open-ended trust that will invest "substantially all of its net assets in HRZN Tokens (the “Tokens”) and will pay out any Tokens to Trust participants upon Trust termination."
The trust will be listed on the CBOE BZX Exchange, and will trade under the symbol "HRZN."
The filing also notes that the trust will not be actively managed, and will instead "passively track the performance of the Tokens."
Grayscale is known for its Grayscale Bitcoin Trust (GBTC), which is the largest publicly traded bitcoin fund in the world. The company also offers trusts for other major cryptocurrencies, such as Ethereum, Litecoin, and XRP.
The launch of a trust for the HRZN token is a significant development, and could help to bring more attention to the tokenized stock market.
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