Zcash Trust Lists on NYSE Arca as Grayscale Conversion Nears Completion

Grayscale's Zcash Trust is on track to list on NYSE Arca under the ticker ZCSH, following a fifth amendment to its conversion filed on August 21. The trust currently holds between 391,000 and 393,000 ZEC tokens, worth over $260 million. This marks a significant milestone for the token, which has seen a sharp rally in recent weeks, with prices nearing an eight-year high of $857, according to CoinGecko.

The listing is expected to bring regulated exposure to Zcash without investors having to hold the tokens themselves, making it one of the best-performing large-cap tokens over the past month. However, the conversion still requires SEC approval, and a second amendment filed just four days after the first suggests continued back-and-forth with regulators.

The new structure introduces continuous share creation and redemption run by authorized participants Jane Street Capital and Virtu Americas, aiming to close the gap between the trust's market price and the underlying value of the ZEC it holds. Grayscale will charge a 2.5 percent annual sponsor fee, while Coinbase Custody will continue holding the tokens.