Grayscale allocates full first-year management fee to ZEC awareness

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Grayscale is putting its money where its mouth is on Zcash. The digital asset manager announced it will direct 100% of the management fees collected during the first year of its new spot Zcash ETF toward promoting the Zcash ecosystem and raising awareness of the product itself. The Grayscale Zcash Trust, trading under the ticker ZCSH on NYSE Arca, launched around August 25 as the first US spot Zcash exchange-traded fund. A 2.5% fee with a catch The ETF carries an annual sponsor fee of 2.5% of net asset value, payable in ZEC and accrued daily. Some spot Bitcoin ETFs charge as little as 0.25%, making Grayscale’s Zcash product roughly ten times more expensive on a fee basis. The entire first year of collected fees will fund initiatives to promote Zcash adoption, education, and awareness of the ZCSH product. There’s an important asterisk. The commitment is entirely voluntary. Grayscale can modify or discontinue the arrangement at any time without any obligation to investors. The fee itself doesn’t change regardless of whether the money goes to ecosystem promotion or Grayscale’s bottom line. Investors pay 2.5% either way. From private placement to public markets The ZCSH product didn’t ...

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