Grayscale debuts first US Zcash ETF on NYSE Arca

Grayscale just turned its long-running Zcash Trust into something far more accessible: the first US spot ETF offering direct exposure to ZEC, the privacy-focused cryptocurrency. Shares began trading on NYSE Arca under the ticker ZCSH, giving institutional and retail investors alike a regulated on-ramp to Zcash.

The fund holds roughly 391,000 to 393,000 ZEC, representing more than $260 million in assets under management.

From OTC to the big leagues

The ETF is technically a conversion, not a brand-new launch. Grayscale’s Zcash Trust has existed for years, trading on the OTCQX market where liquidity was thin and shares often drifted far from their net asset value. Moving to NYSE Arca changes the game entirely by enabling continuous share creation and redemption, the mechanism that keeps ETF prices tightly anchored to the underlying asset.

Coinbase Custody handles the safekeeping of the underlying ZEC. On the trading side, Grayscale has lined up heavyweight authorized participants including Jane Street Capital and Virtu Americas.

The fund carries a 2.5% annual sponsor fee. That’s notably steeper than the sub-0.5% fees that have become standard among competing Bitcoin ETFs.

ZEC price catches the momentum