Grayscale, a titan in cryptocurrency asset management, has just unveiled plans for a pioneering "Privacy ETF," sparking interest and optimism within the privacy-focused crypto community.
This strategic move not only highlights the growing importance of privacy in the digital age but also marks a significant turning point for Zcash (ZEC), a cryptocurrency renowned for its strong privacy features.
Dive into the details of this exciting development and its implications for the broader cryptocurrency market.
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Grayscale Submits Application for "Grayscale Privacy ETF"
On February 20, 2024, Grayscale, a leading cryptocurrency asset management firm in the United States, submitted Form N-1A to the Securities and Exchange Commission (SEC) for a new Exchange Traded Fund (ETF) called "Grayscale Privacy ETF."
This ETF focuses on privacy-related stocks, including Zcash (ZEC), among others.
The "Grayscale Privacy ETF" is a novel ETF that emphasizes privacy-related stocks. Specifically, it comprises stocks related to the following five sub-themes:
- Data privacy solution providers
- Cyber services providers
- Blockchain-based privacy solutions
- Network and communication security providers
- Privacy protection protocols
10% Allocated to Grayscale Zcash Trust (ZCSH)
A notable aspect of the "Grayscale Privacy ETF" is the inclusion of stocks related to Zcash (ZEC), a cryptocurrency valued for its emphasis on anonymity.
While the fund does not invest directly in ZEC, 10% of the portfolio is allocated to the Grayscale investment trust that invests in Zcash, "Grayscale Zcash Trust (ZCSH)."
Zcash (ZEC) had previously experienced a significant price drop due to the global trend of increasing regulation on cryptocurrencies with high anonymity and the delisting from various exchanges that followed.
However, the ETF application appears to have positively impacted ZEC's price, which surged from $23.7 to $29.7 on February 22, 2024.
>> For the latest articles related to ETFs, click here.
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