Grayscale Files to Launch Zcash ETF After Privacy Coin's 1,000% Price Surge

Crypto plus manager Grayscale Investments has jumped connected the Zcash hype by filing for an exchange-traded money that would springiness investors vulnerability to the privacy coin. 

A Wednesday filing with the Securities and Exchange Commission shows that Grayscale wants to person its Grayscale Zcash Trust into an ETF. If approved, it would beryllium the archetypal ETF giving investors vulnerability to the coin. 

Zcash enables users to nonstop and person wealth successful backstage by encrypting transaction accusation utilizing zero-knowledge proofs—a cryptographic method that proves thing is known without revealing the known accusation directly. 

The coin's worth has changeable up by astir 1,000% implicit the past twelvemonth arsenic crypto bigwigs person pumped the asset's usage cases connected societal media. 

"Although Zcash is akin to Bitcoin, determination are respective cardinal differences betwixt the Zcash Network and the Bitcoin network," Grayscale said successful its filing. "The cardinal quality betwixt Bitcoin and Zcash is that Zcash offers selective privacy-preserving features."

Zcash started rallying successful September amid concerns astir the government's quality to way Bitcoin users owed to BTC's transparent nature. Crypto entrepreneurs similar Naval Ravikant and Arthur Hayes wrote posts connected X astir however utile the coin was, and it has continued to summation successful caller weeks even arsenic Bitcoin fell.

Grayscale has converted a fig of its trusts into ETFs. As trusts, the concern vehicles made it harder for investors to redeem shares. ETFs are products wherever investors tin rapidly currency out. 

Zcash Drops, Then Pops arsenic Bitcoin Billionaire Arthur Hayes Warns Holders to Remove ZEC From Exchanges

Grayscale antecedently converted its Bitcoin and Ethereum trusts into spot ETFs earlier this twelvemonth pursuing SEC support of each respective merchandise successful the U.S. The funds person been wildly successful. 

The steadfast besides has Solana, Dogecoin, and XRP ETFs connected the marketplace now. 

Zcash (ZEC) was precocious trading for astir $502 per coin, unmoved implicit a 24-hour period, CoinGecko information shows. Over the past 30 days, the plus has risen by astir 40%. The coin is inactive good beneath its 2016 grounds of $3,192, though.