Digital asset administration extensive Grayscale has submitted a proposal for a singular privateness-centered exchange-traded fund (ETF) that entails the altcoin Zcash (ZEC).
If accredited, the Grayscale Privacy ETF’s funding portfolio will consist essentially of investments in records privateness solution suppliers, cybersecurity corporations, blockchain-based mostly privateness solutions and community security corporations, in step with an N-1A originate filed with the U.S. Securities and Replace Commission (SEC) on Tuesday.
Even supposing the fund is now not going to speculate in digital assets without prolong, this would well commit 10% of its portfolio to the Grayscale Zcash Believe (ZCSH), a regulated financial product solely and passively invested in Zcash.
The privateness-centered digital forex jumped bigger than 20% on the news, surging from trading round $24.24 to a high of $29.21. ZEC has since partially retraced and is trading at $26.89 at time of writing.
In uncover to be eligible for inclusion in the Grayscale Privacy ETF’s funding portfolio, corporations need to be publicly listed on a stock exchange and have a $250 million market capitalization.
Grayscale was one of 11 corporations that obtained approval from the SEC in January to commence a space Bitcoin (BTC) ETF. The asset administration extensive converted its flagship product, the Grayscale Bitcoin Believe (GBTC), into an exchange-traded fund listed on the exchange NYSE Arca.
