On Tuesday, Grayscale launched an ETF providing direct exposure to the privacy-focused cryptocurrency Zcash. The fund trades on NYSE Arca under the ticker ZCSH and was created from the Grayscale Zcash Trust. At the time of launch, the trust had more than $313 M in assets.
The ZCSH management fee is 2.5%, and Grayscale will direct the proceeds toward the development of the Zcash ecosystem and network.
The fund launched after a sharp rise in Zcash, with the cryptocurrency gaining around 45% over several days. The rally came ahead of Grayscale’s filing of its fifth amended registration statement for the ETF.
An earlier version of the filings also revealed plans by an entity affiliated with Digital Currency Group to acquire around 200,000 ZEC through a trust.
Grayscale has already converted several cryptocurrency trusts into ETFs. These include funds focused on Bitcoin, Ethereum, XRP, Solana, and Litecoin. The company’s Bitcoin ETF launched after its legal battle with the US Securities and Exchange Commission (SEC), which ended in Grayscale’s favor in 2023.