Zcash Price Hits 8-Year High as Grayscale ETF Gets Closer

Zcash (ZEC) climbed to an 8-year high on Saturday, after Grayscale filed a fifth amended registration with the SEC.

The amendment advances Grayscale's proposed Zcash ETF but does not amount to SEC approval. If approved, the fund would be the first US ETF to directly track Zcash.

Grayscale Fills the Blanks on Fee and Name

Tuesday's fourth amendment left both the sponsor's fee and the name blank. Friday's amendment sets that figure at an annual rate 2.5% of the NAV Fee Basis Amount of the Trust, accruing daily.

Furthermore, Grayscale will rename the trust The Zcash ETF. Shares would list on NYSE Arca under ZCSH.

"While an investment in the Shares is not a direct investment in ZEC, the Shares are designed to provide investors with a cost-effective and convenient way to gain investment exposure to ZEC," the amendment reads.

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