Grayscale Debuts Zcash ETF on NYSE Arca Following Critical Shielded-Pool Patch

Grayscale has launched the first exchange-traded fund linked to Zcash, listing the product on NYSE Arca under the ticker $ZCSH. The move converts the long-standing Zcash Trust, originally introduced in 2017, into a fully tradable ETF, allowing investors to gain exposure to ZEC through standard brokerage and investment accounts without holding the token directly. The listing lands after heightened attention on Zcash's privacy technology. Developers recently disclosed and fixed a critical vulnerability affecting the Orchard shielded pool—a flaw that had existed for four years and, in theory, could have allowed counterfeit ZEC to be created. Because shielded transactions obscure on-chain details, it could not be determined whether the issue had ever been exploited. An emergency patch was released on June 1, followed by the Ironwood network upgrade in July. Ironwood replaced Orchard and introduced additional accounting controls designed to catch and contain any counterfeit coins. Grayscale said the ETF responds to growing investor interest in privacy-focused digital assets and broader diversification beyond Bitcoin and Ethereum through familiar market infrastructure. The fund carries a 2.5% fee, and Grayscale said related revenue will be directed back into the Zcash ecosystem to support development and network growth. Steve Vanourny, Grayscale's Head of Index, pointed to Zcash's network maturity, its Bitcoin-derived monetary design, and optional privacy features as key factors behind the timing. He said the product's success will ultimately be measured by adoption, real-world utility, and network security as privacy continues to be a central theme in the scaling of digital assets. Grayscale announced the launch on August 25, 2026, positioning $ZCSH as the first ETF offering dedicated exposure to $ZEC.