Crypto
Home›Crypto›Regulation›Grayscale files fifth amendment for a Zcash ETF in the…
Grayscale files fifth amendment for a Zcash ETF in the US
The proposed Zcash ETF would list on NYSE Arca under ticker ZCH, with a 2.5% annual sponsor fee.
Grayscale has filed a fifth amendment with the U.S. Securities and Exchange Commission as it moves closer to launching what would be its first Zcash exchange-traded fund. The plan would convert Grayscale's existing Zcash Trust into an ETF structure.
In the latest filing, Grayscale said the trust would be renamed The Zcash ETF and set the sponsor fee at an annual rate of 2.5%. The product is proposed to trade on NYSE Arca under the ticker symbol ZCH, according to The Block.
The Block also reported that Bank of New York Mellon would serve as the transfer agent and Coinbase Custody Trust Company, LLC as the custodian. Grayscale said the trust intends to issue shares on a continuous basis, with an indeterminate number of shares to be registered.
Grayscale has said its Zcash Trust has been operating since 2017 and, as of Friday, had more than $260 million in assets under management, The Block noted. The proposed ETF would be the first U.S. product to directly track the privacy-related asset Zcash.