Grayscale's Zcash ETF Proposal Advances, Sending ZEC Price to 8-Year High

Grayscale's proposed Zcash ETF has taken another step forward after the company filed a fifth amended registration with the SEC. The filing sets a 2.5% annual sponsor fee and names the fund The Zcash ETF, which would list on NYSE Arca under the ticker ZCSH.

The amendment advances Grayscale's proposal but does not amount to SEC approval. If approved, the fund would be the first US ETF to directly track Zcash, providing investors with a cost-effective way to gain exposure to the cryptocurrency.

The filing triggered a 34% 24-hour rally in ZEC, pushing its price above $800 for the first time since January 2018. However, it still trades well below its October 2016 record of $3,191 and carries recent security risk from a June shielded-pool bug that required an emergency upgrade.