Grayscale’s Zcash fund began trading on NYSE Arca on August 25 under the ticker ZCSH, billed as the world’s first exchange-traded product offering spot exposure to Zcash. The fund carries a sponsor fee of 2.5% per year and a discount to net asset value that narrowed from 17% at the end of June to 1% by August 20. The trust reported a net asset value of $155.2 million at the end of June, representing approximately 2.3% of the ZEC in circulation. ZEC traded at $785 on August 26, making it the 12th-largest digital asset at a $13.2 billion market capitalization, having touched roughly $880 two days before the listing, its highest since January 2018.
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