Grayscale Launches First Zcash Exchange-Traded Fund
Zcash is a decentralized, privacy-focused cryptocurrency that was launched in 2016 and derived from Bitcoin's (CRYPTO: $BTC) original codebase.
Grayscale has launched the Zcash ETF under the ticker symbol "ZCSH" on the NYSE Arca exchange.
The new ETF is a conversion of Grayscale's Zcash Trust and comes with a management fee of 2.50%.
"We believe Zcash has a compelling long-term role to play and are proud to make its token accessible through the exchange-traded product structure," said Grayscale in a statement.
Over the past few days, Zcash's price has risen 45% amid a broader rally in cryptocurrencies.
Grayscale is known for offering several crypto-based trusts and ETFs, including its popular Bitcoin and Ethereum (CRYPTO: $ETH) ETFs.
Grayscale is privately held and its stock does not trade on a public exchange.
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