Grayscale’s Zcash ETF launches as ZEC hits 8-year high – What’s next?

Grayscale just launched the first-ever Zcash [ZEC] ETF!

The debut came days after its 8-year high in token price, so will this development help the token soar further?

Grayscale launches first Zcash ETF

This is the first ETF offering direct exposure to ZEC.

The fund, trading under the ticker ZCSH on NYSE Arca, is a conversion of the existing Grayscale Zcash Trust. Instead of holding ZEC themselves, investors can now buy ETF shares through traditional brokerage accounts.

It’s an interesting time for a launch like this. The token just rallied massively, and the network itself has gone through major security upgrades.

This has to do with the discovery of a critical vulnerability in its privacy system earlier this year. Developers responded with the Ironwood upgrade to help the network’s security and accounting mechanisms.

Before converting it into an ETF, the Grayscale Zcash Trust had more than $313 million in AUM.

Grayscale has previously converted several of its crypto trusts into ETFs. This includes its Bitcoin [BTC] and Ethereum [ETH] products, following its legal battle with the U.S. SEC over spot crypto ETFs.

Since then, the firm’s offerings have gone on to include Ripple’s XRP [XRP], Solana [SOL], and Litecoin [LTC] ETFs.