Core Insights - Grayscale Investments has filed for an exchange-traded fund (ETF) to convert its Grayscale Zcash Trust, aiming to provide investors with exposure to Zcash, marking a potential first for an ETF focused on this privacy coin [1][4] Group 1: Zcash Overview - Zcash allows private transactions by encrypting transaction details using zero-knowledge proofs, which validate information without disclosing it directly [2] - The value of Zcash has surged nearly 1,000% over the past year, driven by endorsements from influential figures in the crypto space [2] Group 2: Market Dynamics - Zcash's recent rally began in September, fueled by concerns over Bitcoin's transparency and the government's ability to track users, leading to increased interest in Zcash's privacy features [3] - Prominent crypto entrepreneurs have highlighted Zcash's utility on social media, contributing to its price increase even as Bitcoin's value has declined [3] Group 3: Grayscale's Strategy - Grayscale has successfully converted several of its trusts into ETFs, which facilitate easier redemption for investors compared to trusts [4] - The firm has previously converted its Bitcoin and Ethereum trusts into spot ETFs, which have performed exceptionally well following SEC approvals [4] Group 4: Current Market Status - Zcash (ZEC) is currently trading at approximately $502 per coin, showing no significant change over a 24-hour period, while it has increased nearly 40% in the last 30 days [5] - Despite its recent gains, Zcash remains significantly below its all-time high of $3,192 reached in 2016 [5]