Zcash climbed to its highest level in eight years following Grayscale’s submission of a fifth amended registration statement with the SEC for a proposed Zcash exchange-traded fund. The filing represents progress toward the potential launch of what would be the first US-listed ETF to directly track Zcash, though SEC approval remains pending.
According to the amended registration, Grayscale set the fund’s annual fee at 2.5% of the NAV Fee Basis Amount of the Trust, accruing daily. The company also finalized the fund’s name as The Zcash ETF, with shares designated to trade on NYSE Arca under the ticker symbol ZCSH. Coinbase Custody Trust Company would serve as custodian for the fund’s tokens, while Bank of New York Mellon would act as transfer agent and administrator. Grayscale committed to directing 100% of fees toward marketing and development for up to 12 months, a voluntary pledge.
Zcash’s price surge reflected broader momentum in cryptocurrency markets. The token rose 34% over a 24-hour period, marking the largest gain among the 100 largest cryptocurrencies. ZEC crossed $800 for the first time since January 2018, reaching an intraday high of $857 before settling around $784. This price level broke through a resistance point that had held the token for more than eight years, though it remained substantially below its October 2016 record of $3,191.
The rally came as the cryptocurrency recovered from earlier turbulence. In June, a security vulnerability affecting one of the network’s shielded pools prompted significant selling pressure, with ZEC losing approximately half its value. An emergency network upgrade subsequently addressed the flaw, paving the way for the recent price recovery.
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