Grayscale's Zcash exchange-traded fund (ZCSH) held $463.2 million in net assets as of September 4, reflecting robust inflows since its launch on August 25. The fund converted from Grayscale's longstanding Zcash Trust, which had operated since 2017, making ZCSH the first US-listed spot ETF for a privacy-focused cryptocurrency.
At conversion, the trust held approximately $260 million in assets. The rapid growth to $463.2 million indicates significant investor demand for simplified ZEC exposure through traditional market infrastructure.
ZEC traded near $1,185 on September 4, up 11% over the preceding 24 hours. ZCSH shares closed at $83.77 that day, gaining 7.62%, with a net asset value per share of $83.48. The fund's year-to-date return reached 166.44%, according to Yahoo Finance data.
The ETF held 444,608 ZEC tokens as of September 4, with 5.55 million shares outstanding. Daily volume reached 804,728 shares. The fund's 52-week range extends from $3.54 to $84.23 per share.
Zcash has rallied substantially in recent weeks, more than doubling in value over the past month and reaching an eight-year high in August. This momentum has lifted ZEC's market capitalization above $20 billion, placing it among the ten largest cryptocurrencies by market cap.
Steve Vanourny, Grayscale's head of index, attributed the growing interest in ZEC and the ETF launch to rising demand for financial privacy, stating that demand for genuine financial privacy is expected to grow as technology reshapes financial monitoring capabilities.
The ETF provides retail investors with ZEC exposure without requiring direct management of cryptocurrency wallets or exchange accounts, a factor Grayscale identified as contributing to inflows since the fund's inception.
