- Zcash ETF filing confirms the ZCSH ticker and a 2.5% annual sponsor fee.
- ZEC traded near $789 after reaching above $850, its highest level since 2018.
- The SEC has not approved the fund or published a final decision date.
The Zcash ETF moved closer to a possible U.S. launch after Grayscale filed its fifth amended S-3 with the SEC. ZEC rose more than 30% and traded near $789 Saturday after climbing above $850. The move took the privacy-focused asset to its highest level since January 2018. The filing supplied fee, ticker, and operating details, though regulatory approval is still pending.
Zcash ETF Filing Confirms Fee, Ticker and Service Providers
The SEC amendment says Grayscale plans to rename its existing Zcash Trust as The Zcash ETF. The proposed shares would list on NYSE Arca under the ticker ZCSH. Grayscale set the annual sponsor fee at 2.5% of the trust’s daily fee basis.
Coinbase Custody Trust Company would hold the fund’s ZEC. The Bank of New York Mellon would serve as transfer agent and administrator. The trust plans to issue shares continuously and register an unspecified number of shares.
Share prices would reflect ZEC’s market value, the trust’s expenses, and trading prices on NYSE Arca. An earlier amendment also disclosed talks involving a Digital Currency Group subsidiary. That company may contribute shares representing exposure to about 200,000 ZEC, although the discussions are not binding.
ZEC Price Breaks Above $850 After Filing Momentum Builds
The ZEC price reached an intraday level above $850 before easing toward $789. That move cleared the roughly $800 area last reached in January 2018. ZEC posted the strongest daily performance among the 100 largest cryptocurrencies during the rally.
The token still trades below its October 2016 record near $3,191. Its latest advance followed a volatile period after a June flaw affected one shielded transaction pool. Developers issued an emergency network upgrade, while ZEC had already lost roughly half its value.
Bloomberg ETF analyst James Seyffart said the fifth amendment brings the Zcash ETF closer to conversion. The filing does not represent SEC approval, and regulators have not disclosed a final decision date. If approved, the Zcash ETF would become the first U.S. fund directly tracking ZEC.
Grayscale has operated the underlying trust since 2017. The product held more than $260 million in assets as of Friday.
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