Overview
- Grayscale, which filed the conversion with the SEC on Friday, is seeking an NYSE Arca listing under the ticker ZCSH.
- The proposed ETF would hold ZEC directly and name Coinbase Custody as custodian with Bank of New York Mellon as administrator.
- The filing states that shares aim to track the value of ZEC less fees, and it warns that owning the ETF is not the same as holding the coin.
- The plan follows the SEC’s January closure of its Zcash Foundation review with no enforcement action, easing a long-running regulatory overhang.
- ZEC spiked from roughly $420 to near $640 after the filing and later settled near $550, while the existing trust reported about 391,104 ZEC worth around $99.4 million at March 31.