As part of the application, Grayscale intends to register and list the fund, after which the trust will be renamed the Grayscale Zcash Trust ETF. This will require amendments to the trust certificate in Delaware. The company emphasized that privacy is becoming increasingly important in the crypto space, and therefore Zcash is considered an important asset for a diversified portfolio.
If launched, the Grayscale Zcash Trust ETF will be the first public fund in the US to track the price of the privacy coin and allow investors to acquire ZEC through regular brokerage accounts. Zcash was created in 2016 by a team of cryptographers as a "Bitcoin alternative" with a selective transaction privacy option.
Earlier, the American company Reliance Global Group announced the liquidation of its Bitcoin, Ethereum, and XRP portfolio, switching entirely to Zcash. The reason cited was the coin's high level of security and flexibility compared to other digital currencies.
Thus, Grayscale is betting on privacy cryptocurrencies, offering investors a convenient and transparent tool for trading Zcash within the traditional financial market.