Grayscale updates Zcash ETF filing with $110M plan

• Grayscale filed its fourth amendment to convert its Zcash Trust into an ETF on NYSE Arca.
• A Digital Currency Group subsidiary is considering about $110 million of shares linked to 200,000 Zcash (CRYPTO:ZEC).
• The filing also details the Orchard vulnerability and Ironwood upgrade affecting Zcash’s supply risk.

Grayscale is seeking to convert its Zcash Trust into an exchange-traded fund while a DCG subsidiary weighs a $110 million investment.

The proposed ETF would trade under the existing ZCSH ticker on NYSE Arca, subject to regulatory approval.

The filing says the potential investor could buy more, fewer or no shares because discussions remain non-binding.

Grayscale said the proposed investment represents exposure to about 200,000 Zcash (CRYPTO:ZEC), worth roughly $111 million at $555 per token.

The trust’s principal market net asset value rose to about $155.25 million on June 30, from about $99.4 million on March 31.

The filing also covers the Orchard vulnerability, which raised concerns that counterfeit ZEC could have been created without clear public evidence.

Zcash later activated the Ironwood upgrade on July 28, replacing Orchard with a new shielded pool and adding controls for funds leaving the old pool.

At the time of reporting, Zcash price was $558.23.