Asset supervisor Grayscale Investments has launched the first exchange-traded fund (ETF) that tracks the spot price of cryptocurrency Zcash (CRYPTO: $ZEC).
Zcash is a decentralized, privacy-focused cryptocurrency that was launched in 2016 and derived from Bitcoin’s (CRYPTO: $BTC) unique codebase.
Grayscale has launched the Zcash ETF under the ticker image “ZCSH” on the NYSE Arca exchange.
More From Cryptoprowl:
The new ETF is a conversion of Grayscale’s Zcash Trust and comes with a management price 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 assertion.
Over the previous few days, Zcash’s price has risen 45% amid a broader rally in cryptocurrencies.
Grayscale is identified for offering several crypto-based trusts and ETFs, including its well-liked Bitcoin and Ethereum (CRYPTO: $ETH) ETFs.
Grayscale is privately held and its stock does not commerce on a public exchange.