Grayscale filed an SEC application to convert its Zcash Trust into a U.S. spot ETF, which would be the first regulatory approval for a privacy-coin ETF.
Regulation & Gov ·
Grayscale has submitted an application to the SEC seeking to transform its existing Zcash Trust into a spot exchange-traded fund, according to amended regulatory filings. If approved, the product would represent the first U.S.-listed spot ETF focused on a privacy-oriented cryptocurrency.
The conversion would allow investors to gain exposure to Zcash through a traditional equity market vehicle rather than a closed-end trust structure. Spot ETFs track the real-time price of an underlying asset and have become an increasingly common pathway for crypto assets seeking mainstream market access. Privacy coins have generally faced regulatory scrutiny, making approval for such a fund a significant milestone for the asset class.
The SEC's decision remains pending, and no approval timeline has been disclosed. Multiple sources have tracked Grayscale's progress toward this filing, though the regulatory outcome and any conditions attached to potential approval are not yet determined.