Grayscale Filing Ignites ZEC Rally, TAO Conversion Lags Behind

The price of ZEC surged to an eight-year high of $836-$855 following Grayscale's latest filing, which revealed that DCG subsidiary is in talks to inject approximately 200,000 ZEC into the fund.

Grayscale is converting its existing Grayscale Zcash Trust (ZCSH) into a spot ETF listed on NYSE Arca, planning to rename it The Zcash ETF with ticker ZCSH (or ZCH).

The filing specifies an annual fee of 2.5%, with Coinbase Custody among those responsible for custody, and lists Jane Street, Virtu, and others as authorized participants.

Grayscale is also executing the 'trust-to-ETF' playbook with Bittensor (TAO), but progress is behind that of ZEC's conversion.