Zcash Hits 8-Year High as Grayscale Files Fifth Amended ETF Application

Zcash (ZEC) climbed to its highest price in eight years on Saturday, coinciding with news that Grayscale had submitted a fifth amended registration for its proposed spot Zcash ETF to the U.S. Securities and Exchange Commission. The filing, made Friday, does not constitute approval, but it pushes the fund one step further through the SEC’s review process.

If cleared, the vehicle would become the first U.S.-listed ETF to directly track Zcash, a privacy-focused cryptocurrency that has traded on public markets since 2016. No other issuer currently has a competing spot Zcash product before regulators.

Fifth revision, still no green light

Grayscale’s latest amendment marks the fifth time the asset manager has revised its registration statement for the fund. Repeated amendments are a routine part of SEC engagement on novel crypto products, typically addressing custody, valuation methodology or disclosure language the regulator has flagged in earlier rounds.

The SEC has not issued a final decision on the application. A fifth filing signals active back-and-forth between Grayscale and the agency rather than a settled outcome, and further amendments remain possible before any launch date is set.

Price reaction outpaces the paperwork

ZEC’s move to an eight-year high came a day after the filing, suggesting traders read the amendment as a sign of forward momentum toward a U.S. listing rather than a delay. Zcash has drawn renewed attention this year as privacy coins compete for a smaller pool of liquidity than more mainstream large-cap tokens.

An ETF wrapper would give institutional and retail investors regulated exposure to ZEC without requiring them to hold the token directly or manage its shielded-transaction features on-chain. That access has historically been a catalyst for price moves in other assets once spot ETFs cleared the SEC, as seen with Bitcoin and Ethereum funds over the past two years.

Why it matters for ZEC holders

For existing Zcash holders, the filing itself changes nothing about custody or transaction privacy on the network. What it does change is the odds calculus: each amendment narrows the list of open questions the SEC has with Grayscale’s structure, and a five-round revision history indicates the fund is further along than a first-round filing would be.

Traders should note that an amended registration is a procedural step, not a regulatory approval. The SEC could still request further changes, delay a ruling, or reject the application outright. No launch date has been confirmed.

Sources

• beincrypto.com
• theblock.co