Grayscale Files Fifth Amendment for Proposed Zcash ETF
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Grayscale filed a fifth amendment with the SEC to convert its Zcash Trust into The Zcash ETF (ticker ZCH), proposing an NYSE Arca-listed U.S. spot ETF with a 2.5% annual sponsor fee and continuous share issuance. Bank of New York Mellon will serve as transfer agent and Coinbase Custody will safeguard Zcash holdings, a move that could broaden regulated crypto adoption, provide brokerage access to the privacy-focused asset, and influence Zcash market dynamics.
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Grayscale has taken another step toward launching the first U.S. spot exchange-traded fund tied directly to Zcash. The asset manager filed its fifth amendment with the Securities and Exchange Commission on Friday.
The filing brings its existing Zcash Trust closer to a conventional ETF structure. Consequently, investors could gain regulated market access to the privacy-focused cryptocurrency through traditional brokerage accounts.
New Structure and Key Details
Grayscale plans to rename the trust The Zcash ETF and list it on NYSE Arca. The proposed fund will trade under the ticker ZCH. Additionally, the ETF will charge investors an annual sponsor fee of 2.5%.
Bank of New York Mellon will handle transfer-agent duties for the fund. Coinbase Custody Trust Company will safeguard its Zcash holdings.
Moreover, Grayscale expects to issue shares continuously at prices link…
Read The Full Article Grayscale Files Fifth Amendment for Proposed Zcash ETF On Coin Edition.
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