Grayscale’s Zcash ETF Tops $1 Billion in Assets in 30 Trading Days
Summary
- Grayscale’s Zcash ETF, ZCSH, surpassed $1 billion in assets under management within 30 trading days of launch.
- The Zcash ETF ranked in the top 1% of ETFs launched over the past decade based on first-month performance.
- Grayscale said it is reviewing ETF launches for 27 assets including AI and decentralized finance (DeFi), while also pursuing the tokenization of Bitcoin and Ether covered-call funds.
Forecast Trend Report by Period
Grayscale’s Zcash exchange-traded fund surpassed $1 billion in assets under management within 30 trading days of its launch. The asset manager said the crypto ETF market, once concentrated in Bitcoin and Ether, is broadening to include a wider range of assets.
The Block reported on October 7 that Krista Lynch, Grayscale’s managing director for trading and capital markets, highlighted the performance of the Zcash ETF, ticker ZCSH, at the Token2049 event in Singapore. She said the fund ranked in the top 1% of ETFs launched over the past decade based on first-month performance.
Lynch said the U.S. Securities and Exchange Commission’s standard listing framework has laid the groundwork for a broader product lineup. It created a framework covering about 15 tokens, giving issuers more room to choose products based on investor demand and their own judgment. In January, Grayscale selected 27 assets across four sectors — AI, decentralized finance, consumer and infrastructure — as candidates for potential ETF launches this year.
The firm is also pushing ahead with tokenizing existing funds. Last week, after the SEC introduced an innovation exemption provision, Grayscale applied to tokenize two Bitcoin and Ether covered-call funds. Both products are funds governed by the Investment Company Act.
Lynch described the innovation exemption provision as a “consolation prize” after the Clarity Act failed to pass, but said it still provides a path for the industry to make progress in tokenization. Last month, Grayscale joined other crypto companies in asking the SEC to shorten ETF review periods and allow confidential draft submissions.
