A major development has emerged in the cryptocurrency market as digital asset giant Grayscale submitted an application to the U.S. Securities and Exchange Commission (SEC) to convert its Zcash (ZEC) Trust into a spot ETF. If approved, Zcash (ZEC) would become the first privacy-focused cryptocurrency to receive a spot ETF structure.
The filing comes shortly after reports suggested that the SEC ended its long-running review of privacy coins without taking enforcement action. Market participants believe this removes a significant regulatory uncertainty surrounding privacy-focused crypto assets such as Zcash (ZEC), potentially reopening institutional interest in the sector.
Meanwhile, Multicoin Capital co-founder Tushar Jain revealed that the hedge fund has been accumulating a substantial Zcash (ZEC) position since February. Jain described Zcash as a “macro hedge” against broader economic uncertainty, fueling speculation that institutional demand for privacy coins could strengthen in the coming months.
