This post was originally published on Coinspeaker
Key NotesGrayscale’s ZCSH Form S-3 filing represents a critical milestone toward launching the first institutional Zcash exchange-traded product.Open interest dropped over 6% to just above $1B while volume surged 20%, indicating profit-taking dominated trading activity.Long-to-short ratios fell below 1.0 on major exchanges, reflecting weakened bullish conviction despite the regulatory progress.
Digital asset manager Grayscale advanced its plans to convert the Zcash Trust, launched in 2017, into an Exchange-Traded Fund as US regulatory posture begins to shift under the Trump administration. The firm submitted its ZCSH Form S-3 filing, marking a required step toward launching the first Zcash ZEC $523.3 24h volatility: 4.9% Market cap: $8.58 B Vol. 24h: $925.54 M exchange-traded products.
Posting on X on Tuesday, Grayscale said it has filed the ZCSH Form S-3, describing it as an important step required to launch the first ZEC ETPs.
Zcash brings on-chain privacy via zk-SNARK–powered shielded transactions, offering selective disclosure. As privacy becomes foundational across crypto, we view ZEC as a key contributor to a well-balanced digital asset portfolio.
— Grayscale (@Grayscale) November 26, 2025
The company also emphasized its position as one of the earliest
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