Zcash ETF Launches on NYSE Arca Amid Pricing Concerns
The Zcash ETF, ticker ZCSH, began trading on NYSE Arca on August 25, 2026, converting from Grayscale's over-the-counter Zcash Trust. This move aims to fix years of mispricing and provide regulated exposure to ZEC for brokerage and retirement account investors.
Under the old OTC structure, ZCSH traded below the value of the ZEC it actually held on 700 separate trading days between 2021 and 2026. The fund charges a 2.5% annual fee, ten times the 0.25% BlackRock charges on its spot Bitcoin ETF.
Grayscale's Zcash fund started trading under the ticker ZCSH, giving investors access to ZEC for the first time. The fund holds roughly 391,000 to 393,000 ZEC, worth more than $330 million at current prices.
A pricing problem the wrapper is built to solve: authorized participants can create or redeem shares directly against the fund's ZEC holdings, keeping the market price tethered to net asset value through arbitrage.