Grayscale Seeks SEC Approval for Zcash Spot ETF Conversion

On November 26, 2025, Grayscale filed a formal registration statement with the U.S. Securities and Exchange Commission (SEC) to convert its existing Zcash Trust into a spot-based Zcash exchange-traded fund (ETF). This significant move follows Grayscale’s successful transition of other legacy trust products into regulated ETFs, mirroring their strategy with XRP and Dogecoin. The filing comes amidst a pivotal moment for Zcash, experiencing a strong rally driven by surging institutional interest and improved regulatory clarity.