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MarketCryptocurrency Market NewsETF NewsPrivacy Coin
Sep 7, 2026
2min read
byDarryn Pollock
forBeInCrypto
Grayscale’s newly listed Zcash ETF (ZCSH), converted from its 2017 Zcash Trust on Aug. 25, held $463.2 million in assets and 444,608 ZEC as of Sept. 4, with shares closing at $83.77 (NAV $83.48) after a 7.62% intraday rise; ZEC traded near $1,185, up 11% in 24 hours and has pushed Zcash’s market cap above $20 billion. The spot ETF has driven rapid inflows and easier crypto adoption for the privacy-focused token, producing a year-to-date ETF return of 166.44%, but continued price volatility and uncertain sustained inflows present downside risks for future gains.
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In Brief
- Grayscale’s Zcash ETF (ZCSH) held $463.2 million in assets as of Sept. 4.
- ZEC traded near $1,185, up 11% in the past 24 hours.
- ZCSH shares rose 7.62% Friday before slipping 1.87% after hours.
Zcash (ZEC) trades near $1,185, up 11% over the past 24 hours. Grayscale’s Zcash ETF (ZCSH) held $463.2 million in assets as of Sept. 4.
The fund converted from Grayscale’s Zcash Trust when it began trading on NYSE Arca on Aug. 25. ZEC now ranks among the ten largest cryptocurrencies by market capitalization.
ZCSH Assets Track ZEC’s Rally
ZCSH shares closed at $83.77 on Sept. 4, up 7.62% for the day. Shares slipped to $82.20 in after-hours trading that evening.
The fund’s net asset value per share stood at $83.48. That falls within a 52-week range of $3.54 to $84.23.
Daily volume reached 804,728 shares, per Grayscale’s own disclosures. The ETF’s year-to-date return reached 166.44%, per Yahoo Finance.
The fund held 444,608 ZEC tokens as of Sept. 4. Shares outstanding stood at 5.55 million, Grayscale reported.
Zcash has rallied strongly in the past month, more than doubling in value. Image
Grayscale converted its Zcash Trust into the ZCSH exchange-traded fund on Aug. 25. The trust had operated since 2017.
Grayscale cited roughly $260 million in assets at conversion. ZCSH became the first US-listed spot ETF for a privacy-focused token.
For everyday investors, ZCSH means ZEC exposure without a crypto wallet or exchange account. That access is one reason inflows have grown so quickly since launch.
A New Demand for AI Safe Coins
Steve Vanourny, Grayscale’s head of index, linked the launch to rising demand for financial privacy.
“As AI reshapes how financial activity can be monitored, we believe demand for genuine financial privacy will only grow.”
Steve Vanourny, Grayscale’s head of index, Grayscale
ZEC’s rally began before the ETF launch, when it hit an eight-year high in August.
The rally has pushed Zcash’s market cap above $20 billion, per BeInCrypto data.
The token remains far below its 2016 all-time high of $3,191.93. That leaves room for further gains if inflows continue.
Whether ETF inflows keep pace with ZEC’s volatility remains an open question for investors.
Source: cryptorank.io