Market Trend & Regulatory Compliance - Reliance Global Group converted its entire NASDAQ-listed treasury to Zcash at an average price of $245 [1] - The industry anticipates that regulatory compliance, specifically EU 2026 tax reporting, will drive structural demand for privacy coins like Zcash, rather than speculation [1] - Grayscale's S-3 filing is expected to create the first regulated ZEC ETPs [1] Investment Opportunity - ZEC funding rates offer a 181.66% APR for delta-neutral positions [1] - The industry suggests capturing the funding spread before institutional investment compresses it [1]

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]

⚡️ UPDATE: Grayscale just submitted initial registration for its Zcash trust, $ZCSH, a move that could clear path for the $ZEC ETPs. https://t.co/a1s91EDBZ7 ...