Grayscale, the world’s largest digital asset management company, has submitted an official spot ETF application for altcoins.
Grayscale has applied to the U.S. Securities and Exchange Commission (SEC) to convert its existing Zcash Trust into a spot ETF.
Grayscale’s move marks the first attempt to list a privacy-focused cryptocurrency ETF in the United States.
Grayscale Zcash ($ZEC) If the application is approved, it will be the world’s first spot ETF linked to a privacy coin.
$ZECThe filing comes in the wake of reports that the US SEC has concluded its long-running investigation into privacy coins without imposing sanctions. Market analysts interpret this development as a sign that the sector’s regulatory risk has reduced.
$ZEC It continues to be very popular these days. A few days ago, Multicoin Capital co-founder Tushar Jain also announced that his crypto hedge fund had amassed a significant amount of capital. $ZEC Since February. He added that he was watching himself. $ZEC Retention as macro protection.
$ZEChas risen 32% in the last week, but is still trading at $555 at the time of writing.
*This is not investment advice.
