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Grayscale submitted its fourth amendment to convert its Zcash trust into an exchange-traded fund, while disclosing that a subsidiary of its parent company, Digital Currency Group, is considering acquiring roughly 200,000 ZEC through the trust.
According to a filing with the U.S. Securities and Exchange Commission, the crypto asset manager proposes renaming the Grayscale Zcash Trust (ZCSH) and listing its shares on NYSE Arca under the ticker "ZCSH."
The filing also disclosed that DCG International Investments Ltd. is in discussions to acquire approximately 200,000 ZEC tokens (ZEC), which would be about $110 million worth of ZEC at current prices.
"However, because these discussions are not binding agreements or commitments to purchase, the Potential Investor could determine to purchase more, fewer or no Shares," according to the filing.
Grayscale's latest SEC filing also details the June Orchard vulnerability and subsequent Ironwood upgrade, which retired the affected shielded pool and introduced safeguards against counterfeit ZEC.
This is just the latest altcoin trust Grayscale wants to bring to market, following its staked Avalanche fund and Hyperliquid ETF. Grayscale also recently filed for a spot fund tracking Worldcoin.
Since peaking above $23 million in November 2025, spot ZEC ETF volumes have plateaued considerably throughout this year. ZCSH has not exceeded $5 million in volume since June, according to The Block's data dashboard.
ZEC is trading nearly 10% higher over the past 24 hours, near the $555 level, according to The Block's price data. The token has a market cap near $9.4 billion.
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