Grayscale files fifth SEC amendment for proposed Zcash ETF
The proposed NYSE Arca fund would trade under ZCH, charge a 2.5% sponsor fee and convert Grayscale’s existing Zcash Trust
Grayscale filed its fifth amendment with the Securities and Exchange Commission for a proposed Zcash exchange-traded fund, moving the existing Zcash Trust closer to a spot ETF structure.
The latest filing would rename the trust The Zcash ETF and set an annual sponsor fee of 2.5%. The fund would list on NYSE Arca under the ticker ZCH, with Bank of New York Mellon as transfer agent and Coinbase Custody Trust Company as custodian.
A Digital Currency Group subsidiary is in discussions to potentially contribute about 200,000 ZEC to the fund, according to an earlier amendment. Grayscale’s Zcash Trust has operated since 2017 and held more than $260 million in assets as of Friday.
Zcash is designed as a privacy-focused digital asset. If approved, the fund would be the first US ETF to directly track ZEC. Bloomberg Intelligence ETF analyst James Seyffart said the filing suggested Grayscale was getting closer to converting the trust into an ETF.