Grayscale Discloses Talks Over 200,000 ZEC Contribution to Zcash Trust From DCG Unit
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Grayscale disclosed in an August 18 amendment that it is in talks with DCG International Investments Ltd. to contribute roughly 200,000 ZEC to its Zcash Trust as part of moving the fund onto NYSE Arca. The discussions are non-binding so the potential investor could buy more, fewer, or no shares, signaling institutional interest and potential adoption for the ZEC token and crypto markets while leaving price, fundraising and market impact uncertain.
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Grayscale has disclosed discussions with a Digital Currency Group (DCG) subsidiary over a contribution of roughly 200,000 ZEC to its Zcash Trust, in an August 18 amendment to the registration statement that would move the fund onto NYSE Arca.
Grayscale Investments Sponsors, the trust’s sponsor, said it is in discussions with DCG International Investments Ltd. for the unit to acquire shares through an authorized participant in exchange for the tokens. The filing adds that “because these discussions are not binding agreements or commitments to purchase, the Potential Investor could determine to purchase more, fewer, or no Shares.”
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