Grayscale Launches First Zcash Spot ETF Amid Crypto Market Rally
Grayscale has expanded its crypto offerings by launching the first Zcash spot ETF, trading under the ticker ZCSH on the NYSE Arca. This move comes as the ZEC price rallies to new highs amid renewed optimism in the crypto market, with Bitcoin breaking above $80,000.
The launch of this crypto ETF follows a recent filing with the SEC and marks Grayscale's continued expansion into the crypto space. The asset manager already offers a range of other crypto ETFs, including funds tracking Bitcoin, Ethereum, XRP, Solana, Hyperliquid, Chainlink, Dogecoin, and Sui.
Zcash has been gaining traction in recent times, with its price surging over 60% year-to-date (YTD) as it eyes a potential rally to the psychological $1,000 level. This growth comes despite earlier fears of a counterfeit exploit after a code error was discovered in the Orchard shielded pool, which have since been addressed by the Ironwood upgrade.
Cameron Winklevoss has publicly endorsed Zcash, stating that 'if you are bullish on AI then you are bullish on Zcash. In the age of super intelligence, private money is essential.'