$ZEC waiting to explode💥
Grayscale notes in its filing that Trust aims to list its shares on the NYSE Arca under the ticker ZCSH. The company also highlights that, for now, they are unable to support the creation or redemption of shares in-kind with authorized participants.
Grayscale emphasizes that these limitations stem from the ongoing market uncertainty, even after the SEC granted approval for in-kind processes for certain digital spot asset ETFs. The company explains that broker-dealers and other participants have yet to clarify how they will update their procedures to align with the new regulatory framework, leaving the deadline for adopting the in-kind mechanism unresolved.
The issuer is increasingly aggressive in offering exposure to investors in altcoin ETFs. Grayscale has recently accelerated its shift towards altcoin products, converting several long-standing single-asset trusts into ETFs, including XRP, Dogecoin, and Solana.
Grayscale's Zcash Trust, launched in 2021, manages approximately $196 million in assets. The move to convert this product into an ETF comes amid a surge in demand for privacy tokens recently.
ZEC has surged over 500% in the last two months. The token rose 5% on Monday, reducing the weekly decline to 17%
