Zcash ETF Filing Sends Token Surging Back to 2018 Price Levels

Zcash has surged to its highest level in roughly eight years, reaching prices not seen since early 2018. The token's rally is attributed to Grayscale's efforts to convert its existing Zcash trust into a US exchange-traded fund.

Grayscale filed its fifth amended registration statement with the Securities and Exchange Commission on August 21, filling in several details that had remained unresolved in the previous version. The filing sets the sponsor fee at an annual rate of 2.5% of the trust's NAV fee basis, accruing daily.

The proposed fund would trade on NYSE Arca under the ticker ZCSH and would be administered by Bank of New York Mellon as custodian, transfer agent, and authorized participant. Grayscale plans to use 100% of the sponsor fee it receives for up to 12 months on marketing and initiatives supporting the Zcash network.

The ETF filing adds a new institutional catalyst, but approval is still not guaranteed. The market is pricing in progress rather than approval, with the next test being whether regulatory momentum can sustain a Zcash rally that has already pushed the token back to price levels last seen during the 2018 crypto cycle.