Crypto: Grayscale Launches the First Zcash ETF Listed in the United States

Grayscale takes a new step with Zcash. The asset manager began trading Tuesday, August 25 its ZCSH product on NYSE Arca, giving American investors exposure to ZEC directly from their brokerage account, without having to buy or hold the token themselves. However, the launch comes after the correction of a critical flaw in Zcash confidential transactions. The issue has since been fixed, notably with the Ironwood upgrade activated in July.

In brief

ZCSH, nine years after the trust, goes public

It took nearly nine years for Grayscale’s product to take the leap. Launched in October 2017 as a private trust, the Grayscale Zcash Trust is now listed on the US market under the ticker ZCSH. Grayscale initiated the transformation to ETF with a filing to the SEC last November.

The difference is mainly practical for investors. ZCSH holders do not own ZEC directly: they hold shares of a fund whose value must follow that of the ZEC held by the vehicle. This allows them to gain exposure to Zcash from their brokerage account, without managing the keys or the storage of cryptocurrencies themselves.