Grayscale Targets First-Ever Zcash ETF, Just Days After Dogecoin ETF Debut
Synopsis
Grayscale filed with the SEC on Wednesday to convert its Zcash Trust into an ETF.
- The ZEC filing comes just one week after the first-ever Dogecoin ETF went live on NYSE Arca.
- In a post on X, Grayscale said it views ZEC as a “key contributor to a well-balanced digital asset portfolio.”
- Grayscale’s Zcash Trust currently holds over $196 million in assets under management.
Grayscale is preparing to convert its Zcash (ZEC) Trust into an exchange-traded fund, filing with the Securities and Exchange Commission on Wednesday.
The move comes barely a week after the company launched its Dogecoin (DOGE) ETF (GDOG) on NYSE Arca.
“We view ZEC as a key contributor to a well-balanced digital asset portfolio,” Grayscale said in a post on X. If approved, the ZEC-focused ETF would be the first of its kind in the U.S., expanding Grayscale’s suite of cryptocurrency exchange-traded products.
Grayscale ZEC ETF
According to the SEC filing, “The Trust’s investment objective is for the value of the Shares (based on ZEC per Share) to reflect the value of ZEC held by the Trust, as determined by reference to the Index Price, less the Trust’s expenses and other liabilities.”
Grayscale’s existing Zcash Trust (ZCSH) currently manages over $196 million in assets. Zcash’s price rose 1.3% in the last 24 hours. On Stocktwits, retail sentiment around the privacy coin dipped to ‘neutral’ from ‘bullish’ territory over the past day while chatter remained at ‘normal’ levels.
Over the past month, Grayscale has converted several of its closed-end trusts to exchange-traded products (ETPs). This includes one that tracks XRP, another focused on Dogecoin, and one tracking Solana (SOL). Grayscale’s Dogecoin ETF, which debuted last week, saw tepid activity, with just $1.4 million traded on its first day.
The firm began converting crypto trusts with the debut of its Bitcoin ETF following a legal fight with the SEC, which opened the door to additional crypto-related ETFs.
Read also: Bitcoin, XRP, ADA Struggle Ahead Of Thanksgiving – Analyst Warns There’s No Clear Catalyst For Q4
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