Grayscale Zcash Trust Inches Closer to NYSE Arca Listing

Grayscale Investments is moving forward with its plans to list the Grayscale Zcash Trust on the NYSE Arca, despite market fluctuations. The company has filed an updated S-3/A registration statement for the trust, which will be listed under the ticker symbol 'ZCSH' if approved.

The Grayscale Zcash Trust aims to directly hold Zcash ($ZEC), the native cryptocurrency of the Zcash network, and offer investors a way to gain exposure to its price movements without holding $ZEC themselves. The trust's shares will be traded on the NYSE Arca, and their sale price will be determined by considering various indicators, including the $ZEC price and market price.

Coinbase will act as the prime broker for the product, while Coinbase Custody Trust Company will provide custody services. Bank of New York Mellon is listed as the transfer agent and manager. Grayscale also envisions the continuous issuance of shares and their periodic sale to investors.

Another notable detail in the filing is that a DCG subsidiary is negotiating with Grayscale to acquire approximately 200,000 $ZEC through the trust. However, this arrangement is not yet binding.