Grayscale ZEC Spot ETF Makes Debut on US Stock Market with $14.8 Million in Trading Volume on First Day, Closing Down 1.54%

BlockBeats News, August 26th. According to BIT (Bit.com) market data, the Grayscale Zcash (ZEC) Spot ETF ZCSH made a debut on the US stock market with a trading volume of $14.8 million on the first day. During the trading day, it surged over 3.5% at one point but closed down 1.54%.

The Grayscale Zcash Spot ETF, under the Grayscale umbrella, is the world's first exchange-traded product providing exposure to Zcash (ZEC) spot markets. This product, formerly known as the Grayscale Zcash Trust, was established in October 2017 in the form of a private placement. Steve Vanourny, Head of Grayscale's Index Business, stated that Zcash has a network history of nearly a decade, a fixed supply limit of 21 million coins, and a PoW mechanism. In addition, it has an optional privacy feature that Bitcoin does not have. The company positions ZCSH as a high-risk satellite position in a digital asset portfolio.