Zcash ETF Nears Approval as Price Surges to Eight-Year High

Zcash (ZEC) has reached an eight-year high after Grayscale filed its fifth amended registration with the SEC.

The proposed ETF, which would track Zcash directly, is one step closer to approval. The fund's sponsor fee is set at an annual rate of 2.5% of the NAV Fee Basis Amount, accruing daily.

Grayscale has pledged to direct 100% of this fee toward marketing and development for up to 12 months. If approved, the ETF would list on NYSE Arca under ZCSH.

Zcash's price surge comes as the broader crypto market rallies, with the token up 34% over the past 24 hours. This marks a significant recovery from its June setback after a security researcher disclosed a flaw in one of the network's shielded pools.