Grayscale has filed a registration statement with the U.S. Securities and Exchange Commission seeking approval to convert its Grayscale Zcash Trust into an exchange-traded fund (ETF).
According to the filing submitted on Wednesday, the firm stated: “The Trust’s investment objective is for the value of the Shares (based on ZEC per Share) to reflect the value of ZEC held by the Trust, as determined by reference to the Index Price, less the Trust’s expenses and other liabilities.”
The Grayscale Zcash Trust currently manages more than $196 million in assets as of Tuesday. Zcash (ZEC), the privacy-focused cryptocurrency behind the product, is the 23rd largest digital asset by market capitalization.
Launched in 2016 by the Zerocoin Electric Coin Company, Zcash is designed to offer enhanced user privacy through zero-knowledge proof technology.
The SEC filing marks Grayscale’s latest move to expand its ETF lineup following a broader industry push to bring more crypto-based investment products to U.S. markets.
