Zcash Price Reclaims $500 as Grayscale Files Form S-3 to Convert $277M Zcash Trust to Spot ETF

Core Insights - Grayscale is advancing its plans to convert the Zcash Trust into an Exchange-Traded Fund (ETF) as US regulatory attitudes shift under the Trump administration [1][3] - The Zcash Trust, launched in 2017, has filed a registration statement with the SEC, marking a significant step towards launching the first Zcash exchange-traded products [2] Company Overview - Grayscale is one of the earliest institutional investors in Zcash, managing $196.8 million in assets under management through its Zcash Trust, which has a 2.50% expense ratio [2][4] - The conversion to a spot ETF is expected to align ZEC with newly approved altcoin ETFs, potentially attracting significant institutional capital [4] Market Dynamics - Despite positive regulatory developments, Zcash's price remains stagnant, struggling around the $500 resistance level with less than a 1% intraday gain [5][7] - Zcash open interest has decreased by 6.24%, while trading volume increased by 20.7%, indicating profit-taking among traders [6] Trader Sentiment - The current market sentiment shows a low probability of ZEC breaking above the $505 resistance level in the near term, as fewer upside bets are being placed [7]