BlockBeats message. On August 25, Grayscale’s Zcash spot ETF was officially listed for trading on the NYSE Arca, with the stock ticker ZCSH. It became the world’s first exchange-traded product to offer spot exposure to Zcash (ZEC). The product’s predecessor was the Grayscale Zcash Trust, which was established in October 2017 in the form of a private placement.

Grayscale said that ZCSH is intended to meet investors’ demand for access to crypto asset exposure through traditional brokerage accounts, beyond Bitcoin and Ethereum. Steve Vanourny, head of Grayscale’s index business, said that Zcash has nearly a decade of network history, a fixed supply cap of 21 million coins, and a PoW mechanism, and also includes optional privacy features that Bitcoin does not have. The company positions ZCSH as a high-risk satellite allocation within a digital asset portfolio.

Notably, at the time of the ZCSH listing, the severe privacy system vulnerability previously disclosed by Zcash remained a focus of market attention. This May, researchers found exploitable vulnerabilities in the Zcash Orchard privacy pool, and attackers could theoretically forge ZEC.

Zcash deployed an emergency patch in June, activated the Ironwood upgrade in July to replace the Orchard privacy pool that contained vulnerabilities, and restricted the potential introduction of forged ZEC into circulation through new supply-accounting rules. “In the gray,” it indicates that going forward, attention will focus on the adoption of the Ironwood upgrade, network security, exchange support, and privacy-asset regulatory policies.