secwatch.observer — SEC 8-K summary
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Issuer:     Grayscale Horizen Trust (ZEN) (HZEN)
CIK:        0001748945
Form:       8-K
Filed at:   2023-06-23T23:59:59+00:00
Accession:  0000950170-23-029648
Event type: regulatory
Sentiment:  neutral
Materiality: 0.30
Item codes: 8.01
LLM model:  deepseek-v4-flash:cloud@v2

Grayscale Horizen Trust Reference Rate loses Binance.US; switches to Coin Metrics Real-Time Rate
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- CoinDesk Indices removed Binance.US from the Horizen Reference Rate effective June 16, 2023.
- Removal due to Binance.US suspending USD deposits/withdrawals and delisting USD trading pairs.
- No remaining sufficient constituent exchanges; Reference Rate may become unavailable.
- Sponsor will determine Reference Rate using Coin Metrics Real-Time Rate as alternative.
- Sponsor retains discretion to select a different reference rate provider or calculation method.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1748945/000095017023029648/0000950170-23-029648-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1748945/000095017023029648/hzen-20230616.htm
  HTML page:      https://secwatch.observer/filing/0000950170-23-029648

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer