Grayscale's Zcash ETF Launch Sparks ZEC Price Rally, Surpasses DOGE & BNB Futures OI

Grayscale has updated its S-3 form for the Zcash ETF with the US SEC, revealing fees and other key details. The crypto asset manager eyes listing the spot exchange-traded fund on NYSE Arca on August 25, causing ZEC to overtake Dogecoin (DOGE) and BNB in futures open interest.

The Grayscale Zcash ETF has a management fee of 2.5%, payable in ZEC. The sponsor's fee is intended for marketing activities supporting the Trust and initiatives that support the development, marketing, and education of the Zcash Network. Grayscale remains in discussions with DCG International Investments Ltd for a potential contribution of 200,000 ZEC in exchange for shares.

The issuer aims to convert its Grayscale Zcash Trust to spot ETF and list shares on NYSE Arca under the ticker ZCSH. The Grayscale Zcash ETF does not permit in-kind redemptions yet. In an 8-K filing with the SEC, Grayscale Zcash ETF is expected to begin trading on NYSE Arca on or about August 25.

ZEC price jumped more than 7% in the past 24 hours, with the price currently trading at $842. The 24-hour low and high were $784 and $885.42, respectively. However, trading volume has decreased by almost 8% in the last 24 hours despite the Grayscale Zcash ETF.