Grayscale Launches Spot Zcash ETF, Begins Trading on NYSE Arca

Grayscale, a global digital-asset manager, has launched a spot exchange-traded fund tied to privacy coin Zcash.

Decrypt reported on August 25 that Grayscale’s Zcash ETF began trading the same day on NYSE Arca under the ticker ZCSH. The product gives investors exposure to ZEC price moves through a brokerage account without directly buying or holding the token.

ZCSH was first launched in October 2017 as the privately placed Grayscale Zcash Trust. Grayscale filed with the US Securities and Exchange Commission in November 2025 to convert the trust into an ETF.

"Investors increasingly want access through traditional brokerage accounts to digital assets beyond Bitcoin and Ether," Steve Vanourny, head of indexes at Grayscale, said. "Zcash occupies a unique position in that market."

The listing follows Zcash’s recent fix for a critical security vulnerability. A flaw found in May in Zcash’s anonymous transaction system could have allowed an attacker to create counterfeit ZEC, and developers applied an emergency patch in June. Because of Zcash’s privacy features, however, it remains difficult to determine whether the flaw was actually exploited.

Zcash then rolled out its Ironwood upgrade in July, replacing the older anonymous transaction system tied to the issue with a new architecture. Grayscale said it plans to monitor Zcash adoption and usage, network security, and whether the Ironwood upgrade takes hold.

Vanourny said ZCSH is not meant to replace Bitcoin in a broader digital-asset portfolio. Instead, it should be viewed as a separate, high-risk allocation tool.