Grayscale Unveils First-Ever Zcash ETF Amid Token's Eight-Year High

Grayscale has launched its first-ever Zcash ETF, trading under the ticker ZCSH on NYSE Arca. This move comes days after the token reached an eight-year high of $867.

The new fund is a conversion of Grayscale's existing Zcash Trust, which had over $313 million in assets under management before its transformation into an ETF.

This development follows a significant surge in the price of ZEC, with the token experiencing sharp growth from around $500 earlier in August. However, there has been some slowing down since, with the current price at $822.

Despite this, continued bullish positioning is evident, as seen in the increase in $ZEC futures open interest to above $1.2 billion and positive funding rates.