Grayscale files with SEC to list Zcash ETF
Analysis
Price Impact
HighGrayscale's filing for a spot zcash etf is a significant development, as it would be the first etf tied to a privacy coin. this could open zec to a new wave of institutional and traditional investors, increasing demand and legitimacy.
Trustworthiness
HighThe news is from cointelegraph, a reputable source, and references an official sec filing by grayscale, a major asset manager with a history of crypto etf developments.
Price Direction
BullishThe potential approval and launch of a zcash spot etf would dramatically improve zec's accessibility and liquidity for a broader investor base, including those in traditional finance, likely leading to increased capital inflow and price appreciation.
Time Effect
LongWhile the filing itself can generate short-term speculative interest, the full impact of an sec-approved and actively trading etf, including the gradual inflow of institutional capital, typically unfolds over a longer period.
Original Article:
Article Content:
Turner Wright 1 minute ago Grayscale files with SEC to list Zcash ETF The fund, which could be listed on NYSE Arca, would the first ETF tied to a privacy coin, following several other listings from Grayscale and asset managers. Listen 0:00 5 News COINTELEGRAPH IN YOUR SOCIAL FEED Grayscale is aiming to convert its Zcash Trust into a spot exchange-traded fund in a move that could mark one of the first investment vehicles linked to a privacy coin. In a Wednesday filing with the US Securities and Exchange Commission, Grayscale submitted a Form S-3 registration statement, signaling its intention to convert its fund tied to Zcash ( ZEC ) into a spot ETF. The move followed Grayscale’s launch of other spot ETFs linked to cryptocurrencies, including Bitcoin ( BTC ), Ether ( ETH ), and Dogecoin ( DOGE ), and XRP ( XRP ). Source: Grayscale The simplified form with the regulator could allow Grayscale to list the Zcash ETF on the NYSE Arca. According to data from Nansen, the price of ZEC increased by more than 50% in the past 30 days and by 1,050% in the past 12 months, reaching $519.62 at the time of publication. Since the SEC initially approved the listing and trading of spot Bitcoin ETFs in January 2024, several asset management companies, including Grayscale, Bitwise, BlackRock, and others, have expanded their offerings to include exposure to other cryptocurrencies. Grayscale debuted the first spot DOGE ETF this week, which saw $1.4 million in volume on Monday. Related: NYSE approves Grayscale DOGE and XRP ETFs, clearing launch for Monday Are traditional Bitcoiners shifting to Zcash for enhanced privacy? Earlier this month, Leap Therapeutics said it would use a $50 million investment from Winklevoss Capital, the venture capital firm founded by Gemini creators Cameron and Tyler Winklevoss, to acquire ZEC tokens as part of its cryptocurrency treasury strategy. ETF analyst Eric Balchunas later argued on social media that the privacy coin could essentially pull support away from Bitcoin, though many users were skeptical of his claims. Magazine: Rising hockey star’s new life in Ethereum after devastating car crash: Trevor Koverko # Cryptocurrencies # Business # Privacy # Zcash # Grayscale # ETF # Nansen Add reaction