Digital asset management giant Grayscale has submitted a proposal for a new privacy-focused exchange-traded fund (ETF) that will include the altcoin Zcash (ZEC).
If approved, the Grayscale Privacy ETF’s investment portfolio will consist primarily of investments in data privacy solution providers, cybersecurity companies, blockchain-based privacy solutions and network security companies, according to Form N-1A filed with the U.S. Securities and Exchange Commission (SEC). will be configured. ) on Tuesday.
The fund will invest 10% of its portfolio in the Grayscale Zcash Trust (ZCSH), a regulated financial product that does not invest directly in digital assets, but only passively invests in Zcash.
The privacy-focused digital currency surged more than 20% on the news, jumping from around $24.24 to a high of $29.21. ZEC has since partially reverted and is trading at $26.89 at the time of this writing.
To be included in the Grayscale Privacy ETF’s investment portfolio, a company must be listed on a stock exchange and have a market capitalization of $250 million.
Grayscale was one of 11 companies that received approval from the SEC in January to launch a spot Bitcoin (BTC) ETF. The asset management giant converted its flagship product, Grayscale Bitcoin Trust (GBTC), into an exchange-traded fund listed on the NYSE Arca exchange.
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