Grayscale launches first Zcash ETF with direct ZEC exposure

Grayscale has launched the first exchange-traded fund offering direct exposure to Zcash, bringing the privacy-focused cryptocurrency to NYSE Arca under the ticker ZCSH. Summary Grayscale has launched the first ETF offering direct exposure to Zcash under the ZCSH ticker. The fund is a conversion of Grayscale’s Zcash Trust and carries a 2.5% annual sponsor fee. ZEC has rallied about 45% over the past several days ahead of the ETF launch. Grayscale said revenue from the fund’s fee will be directed back into the Zcash ecosystem. Grayscale said Tuesday that the Zcash ETF began trading as a conversion of its existing Grayscale Zcash Trust, giving investors access to ZEC through an exchange-traded product without requiring them to directly hold the cryptocurrency. The fund carries a 2.5% annual sponsor fee. A Grayscale spokesperson said revenue collected from the fee will be directed back into the Zcash ecosystem to support network development, marketing and other initiatives tied to the cryptocurrency. Zcash, launched in 2016, allows users to make shielded transactions that can conceal transaction information through zero-knowledge proofs. The ETF itself holds ZEC while its shares trade ...