Grayscale Files Another Amendment, Bringing Zcash ETF Closer to Reality

Grayscale is inching closer to launching its Zcash ETF after filing another amendment with the Securities and Exchange Commission on August 21. The move marks a significant step forward for the company's plan to transform its existing Zcash Trust into an exchange-traded fund (ETF) listed in the United States.

The Grayscale Zcash Trust has been in existence since 2017, managing over $260 million in assets. However, the proposed ETF would offer investors a more accessible and liquid way to gain exposure to ZEC through normal brokerage accounts, eliminating the need to purchase and hold the asset directly.

The new amendment includes details such as the product's name, The Zcash ETF, and an annual sponsor fee of 2.5%. It also outlines the infrastructure, with NYSE Arca serving as the exchange, Coinbase Custody Trust Company handling custody, and Bank of New York Mellon acting as a primary service provider.

The announcement has been met with excitement in the market, with Zcash surging past $800 for the first time since 2018. The asset's price rose to an intraday high of around $857 before settling back down.