Grayscale Investments has filed with the Securities and Exchange Commission to convert its Zcash Trust into a U.S.-listed exchange-traded fund. The move comes as Zcash experiences one of the year's most explosive crypto rallies, surging 1,000%. This filing represents the firm's latest effort to expand its offerings in the cryptocurrency space.
Grayscale Investments, a major player in cryptocurrency investment products, submitted an application on Wednesday to the Securities and Exchange Commission (SEC). The filing seeks to transform its existing Zcash Trust into the first U.S.-listed exchange-traded fund (ETF) focused on Zcash, a privacy-oriented cryptocurrency.
Zcash has seen remarkable growth recently, with its value exploding by 1,000% in one of the most notable rallies within the crypto market this year. This surge has prompted Grayscale to capitalize on the momentum by offering investors easier access through an ETF structure, potentially broadening participation beyond direct holdings of the coin.
The Zcash Trust has been operational for some time, providing exposure to the privacy coin. Converting it to an ETF would align with Grayscale's strategy to innovate and expand its product lineup, similar to previous conversions for other digital assets. While the SEC's approval process remains pending, this development highlights ongoing interest in privacy coins amid broader cryptocurrency market volatility.