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.

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Zcash has surged over 700% since late September 2025, surpassing Monero as the top privacy coin by market capitalization. This resurgence highlights a shift back to crypto's roots in untraceable digital cash, driven by regulatory pressures and user demand for surveillance resistance. Privacy coins are outperforming amid a broader market downturn.

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