Grayscale files to convert Zcash trust, eyes first privacy coin spot ETF

Grayscale has filed an application to convert its Zcash (ZEC) trust into a spot ETF. If approved, the fund would be the world's first spot ETF for a privacy coin. The move follows a decision by the U.S. SEC to conclude a long-term review of privacy coins without imposing any specific sanctions, a development that market analysts have interpreted as a signal of easing regulatory risks for the sector.