Grayscale’s Zcash ETF (ZCSH) began trading on the NYSE Arca on Tuesday, becoming the world’s first exchange-traded product to offer spot exposure to Zcash. Investors can track the ZEC price through their brokerage accounts without needing to buy or store the tokens directly.

The product was previously the Grayscale Zcash Trust, established in October 2017, and filed a conversion application with the SEC in November 2025. Before the listing, the Zcash network had just undergone a privacy vulnerability fix: in May, a security researcher discovered a four-year vulnerability in the Orchard shielded pool; in June, developers deployed an emergency patch; and in July, the Ironwood upgrade was activated to replace Orchard.

Notably, due to the privacy mechanisms, it is not possible to cryptographically confirm whether the vulnerability had ever been exploited. Grayscale said it will continue to monitor Ironwood adoption, network security, exchange support, and changes in the regulation of privacy assets.

For market observation only and not investment advice.

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