Grayscale Files First Zcash Spot ETF Application

KuCoinFlash

Release Time: 05/12/2026 03:26:56

Summary

Grayscale filed its first spot ETF application for Zcash (ZEC) on May 8. ZEC’s price briefly reached $600, pushing its market cap into the top 15 and surpassing Cardano. Tushar Jain of Multicoin Capital attributed the move to increasing demand for privacy-focused assets amid proposals for a U.S. wealth tax. The SEC completed its review of Zcash in January 2026 without enforcement action. Approximately 30% of ZEC is held in shielded addresses. Last week, Bitcoin ETFs saw $268 million in outflows, with some capital shifting to privacy and AI tokens.

Odaily Planet Daily reports that Grayscale has submitted its first Zcash spot ETF application on May 8.

ZEC price briefly reached $600, pushing its market cap into the top 15 and surpassing Cardano. Tushar Jain, co-founder of Multicoin Capital, attributed this move to growing demand for privacy assets under proposed U.S. wealth tax legislation. The SEC concluded its review of Zcash in January 2026 without taking any enforcement action. Data shows that approximately 30% of ZEC’s supply is held in shielded addresses. Last week, U.S. Bitcoin spot ETFs saw $268 million in outflows, with some funds shifting toward privacy and AI infrastructure tokens.

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