Grayscale Seeks to Convert Zcash Trust Into Spot ETF in Bid for First Privacy-Coin Spot Fund

Grayscale has filed to convert its Zcash Trust into a spot ETF. If approved, it would be the world's first spot ETF linked to a privacy coin. The move follows reports that the U.S. SEC has concluded its long-running review of privacy coins without pursuing enforcement action, easing a key regulatory overhang. Multicoin Capital cofounder Tushar Jain said the firm has been building a sizable ZEC position since February, describing it as a macro hedge.