ZEC Jumps on Grayscale ETF SEC Update as Zcash Reclaims 2018 Price Levels

Zcash surged to its highest level in roughly eight years on Saturday as investors reacted to another step forward in Grayscale’s effort to convert its existing Zcash trust into a US exchange-traded fund.

Grayscale filed its fifth amended registration statement with the Securities and Exchange Commission on Aug. 21, filling in several details that had remained unresolved in the previous version. The filing does not represent SEC approval, but it brings the proposed product closer to a potential launch. If cleared, it would become the first US ETF designed to directly track ZEC.

Zcash has already been drawing renewed attention following a volatile year for privacy coins, including governance changes, regulatory developments and major protocol upgrades.

Grayscale Sets Zcash ETF Fee at 2.5%

The latest SEC filing sets the sponsor fee at an annual rate of 2.5% of the trust’s NAV fee basis, accruing daily. Grayscale also intends to rename the existing Grayscale Zcash Trust as The Zcash ETF once the registration becomes effective and the shares are listed.

The proposed fund would trade on NYSE Arca under the ticker ZCSH. Coinbase Custody Trust Company is named as custodian, while Bank of New York Mellon would act as administrator and transfer agent. The filing also says Jane Street and Virtu have entered agreements to serve as authorized participants.