Grayscale Files First-Ever Zcash (ZEC) ETF
Grayscale announced on Nov. 26, 2025 that it filed an S-3 registration statement with the SEC to launch a Zcash (ZEC) exchange-traded fund in the United States. The move would make Grayscale the first fund sponsor to seek a U.S. ETF specifically tied to ZEC, aiming to give investors a familiar, regulated vehicle for gaining exposure to the privacy-focused token.
The filing is significant because an S-3 registration streamlines future offerings and signals Grayscale’s intent to expand institutional access to privacy coins, which have drawn heightened regulatory attention. If approved, a ZEC ETF could boost liquidity and price discovery for Zcash, but it also faces potential scrutiny around privacy features and compliance. Filing does not equal approval, and timelines will depend on SEC review and any regulatory dialogue that follows.