Grayscale files with the SEC to launch first-ever Zcash ETF
Grayscale has filed with the SEC to convert its Zcash Trust into the first Zcash-focused Exchange Traded Fund (ETF).Summary
Investment manager Grayscale has filed a registration statement with the U.S. Securities and Exchange Commission (SEC) to convert its Grayscale Zcash Trust into an ETF, which would be the first of its kind for Zcash (ZEC).
The filing states that the ETF's objective is for the share value to reflect the value of the ZEC held by the Trust, minus expenses. The Grayscale Zcash Trust currently holds over $196 million in assets under management. Grayscale views ZEC as a key contributor to a balanced digital asset portfolio, especially as privacy becomes more foundational in crypto.
This move follows Grayscale's recent conversions of other closed-end trusts, such as those tracking XRP, Dogecoin, and SOL, into exchange-traded products. These conversions were spurred by Grayscale's legal victory against the SEC, which opened the door for more crypto-related ETFs, coinciding with what the article suggests is a more favorable regulatory environment under the current SEC leadership regarding digital assets.
(Source：The Block)