Zcash becomes the first private cryptocurrency to have an investment fund
This week the community of Zcash has marked a milestone, as the cryptocurrency developed by Zooko Wilcox has become the first private cryptoactive to enter a digital currency investment fund, according to the announcement made by the company dedicated to managing funds of Investment Grayscale Investment LLC.
The inclusion of the Zcash investment fund demonstrates the huge and solid steps taken by this project in just over a year; and also can greatly boost the adoption of this altcoin, which not only the community is betting every day, but investment experts such as Barry Seal, CEO of Digital Currency Group, subsidiary firm Grayscale declared that this was the third cryptocurrency in entering the investment funds for "the potential of privacy in the currency and in the blockchain that supports them".
This release comes a couple of weeks after the company that obtained the first permit from the US Securities and Exchange Commission to form a Bitcoin investment fund - and subsequently one from Ethereum Classic - issued a request to the commission to include a trust that manages Zcash as an investment asset.
Until now it is known that the Zcash Investment Trust will function as a passive investment vehicle through which it is expected to reflect the value of the amount of Zcash supported in the trust in shares, which will have the value of 0.1 Zcash.
It is important to note that for the time being - and it is not known until when - the fund will not be available to all investors, since Zcash Investment Trust will be receiving only accredited investors, that is, their income will at least reach the barrier of the $ 200,000 in the last two years or that have a net worth over one million dollars.
In addition, participants in the fund will not be able to exchange or sell their assets in a secondary market until one year has passed since the beginning of the investment.
Zcash has become one of the altcoins or alternative cryptocoins with more growth in a few weeks, and its main quality - privacy - has attracted the attention of the heavyweights of the financial ecosystem. As is the case of J.P. Morgan Chase Bank, who partnered with Zcash to develop Quorum, an interbank system based on the privacy qualities of the Wilcox cryptocurrency.
The promise of growth and future adoptions for the currency that was born from the Zerocoin project are still standing, but for the moment we will have to wait a bit to know for sure how the integration of this investment fund affects the currency.
The miner gate is no longer removing the zcash. where are you mining.
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