ETF issuer Grayscale has launched the first spot ETF on Zcash, thereby expanding its cryptocurrency-based offerings. Currently, the lineup of crypto products includes exchange-traded funds on Bitcoin, Ethereum, XRP, Solana, Hyperliquid, Chainlink, Dogecoin, and Sui.
In a press release, the ETF issuer announced the start of trading for its spot Zcash ETF on NYSE Arca under the ticker ZCSH. Thus, this fund became the first product to offer institutional investors spot access to the popular privacy-enhancing cryptocurrency.
The launch of the Zcash ETF occurred against a backdrop of growing demand for $ZEC, as demand for privacy becomes increasingly pronounced. Notably, Cameron Winklevoss, who supports the $ZEC treasury firm Cypherpunk, wrote:
If you are optimistic about AI, then you are optimistic about Zcash. In the age of superintelligence, private money is essential.
Thanks to this, the anonymous cryptocurrency reached new highs, also aided by Bitcoin's rise above the $80,000 mark. Recently, $ZEC set a yearly high at $850.
Since the beginning of the year, Zcash has grown by over 60%, even despite a drop to $300 due to a potential vulnerability identified in the code of the Orchard shielded pool.
However, the Zcash team resolved this issue as part of the Ironwood update. As a result, the Orchard pool was closed and replaced with a revamped shielded pool featuring more robust security measures, allowing users to easily verify the supply volume in the pool.
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