Grayscale Research has converted its Zcash Trust into a spot ETF, The Zcash ETF (ticker: ZCSH), listed on NYSE Arca since August 25. The fund holds between 387,000 and 393,000 ZEC tokens valued at over $260 million, with Coinbase as custodian. ZEC’s market cap reached approximately $8 billion by July 2026, up from roughly $4 billion in March. Grayscale estimates that capturing 5% of the $1.4 trillion cryptocurrency market could multiply ZEC’s valuation by 9 to 18 times.
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