Zcash medze ETF gɔme o. Grayscale wɔe, to ga aɖe si le esi la tɔtrɔ me run since 2017. Zcash nye protocol — dɔwɔƒe, gaxɔ alo board aɖeke mele esi o si ate ŋu ana gaxɔ aɖe. Grayscale nye nunɔamesiwo dzikpɔla si le eɖokui si si ƒlea nu ZEC le asi si le ʋuʋu ɖi me abe ame bubu ɖesiaɖe ene.
Vovototo ma nye nu ɖeka kolia si woxlẽ vodadatɔe wu le ZCSH, eye eyae nye afisi axa sia dze egɔme. Le 25 August 2026 dzi la, gaxɔa dze asitsatsa gɔme le NYSE Arca abe Zcash ETF, gbãtɔ si nye United States spot Zcash exchange-traded product, eye wònye fifia enye ZEC ƒe ame ɖekaɖeka siwo lolo wu siwo li la dometɔ ɖeka.

| Ɣe ka ɣi | Nusi trɔ |
|---|---|
| October 2017 ƒe ɣleti | Edzea egɔme abe ame ŋutɔ ƒe dɔwɔƒe ene, gadelawo siwo ŋu woda asi ɖo ɖeɖeko |
| October 2021 ƒe ɣleti | Akpa siwo woyɔ le OTCQX le ticker ZCSH, si wodzrana le asiɖeɖe le NAV ŋu |
| 25 Afɔfiɛ 2026 | Ezua ETP si woateŋu axɔ le NYSE Arca eye wòɖea "Kakaɖedzi" ɖa le ŋkɔa me |
Ƒe 2026 ƒe afɔɖeɖea menye atsyɔ̃ɖoɖo o. Nudzraɖoƒe si woyɔ le OTC me mekpɔa xɔname aɖeke o mɔ̃a, ale be eƒe gomewo ate ŋu adzo ayi ga home si woaxe alo woaɖe asi le eŋu le asixɔxɔa nu ƒe nunɔamesi siwo le megbe na wo, ɣeaɖewoɣi vevie — si nye nusi tututu dzɔ le ƒe 2021 kple 2026 dome. Nusi wodzrana le asitɔtrɔ me kple dɔwɔwɔ nuwɔwɔ kple ɖeɖekpɔkpɔ ƒe arbitrage mɔ aɖe le esi si nana gomekpɔkpɔ ƒe asi nɔa anyi tethered to nunɔamesiwo ƒe asixɔxɔ ŋutɔŋutɔ. Trɔtrɔ tso ɖeka dzi yi bubu dzi trɔa alesi.. nu wɔa nu abe dedienɔnɔ ene.
| Wɔƒe | Dunyaheha |
|---|---|
| Sponsor | Grayscale Investments Sponsors, LLC |
| Nudzraɖoƒedzikpɔla | CSC Delaware Trust Company |
| Dɔdzikpɔla kple amedɔdɔ ƒe amedɔdɔ | The Bank of New York Mellon |
| Prime broker ƒe asitsaha | Coinbase, Inc. — dzɔtsoƒe tso ZEC na kakaɖedzia |
| Gomenɔla siwo ŋu woɖe mɔ ɖo | Jane Street, Virtu — wɔ gomekpɔkpɔwo eye nàxɔ wo |
| Asitsatsa ƒe dɔwɔla | Foreside Fund Services |
| Dzikpɔla | Coinbase Custody Trust Company, LLC — teƒe ɖeka kolia ZEC ŋutɔŋutɔ le |
Akpa siawo dometɔ ɖeka pɛ hã menye gaxɔa o. Dɔwɔɖoɖoae nye ɖoɖoa wo dome, si nye nusi nɔnɔmetata si le etame la gblɔ. Dɔ siawo dometɔ geɖe bu alo wotro le nyadzɔdzɔwo me le ɣeyiɣi si me woŋlɔ ŋkɔawo; xexlẽdzesi si le afisia kplɔ Grayscale's Form S-3 ƒe ŋkɔ ŋɔŋlɔ ƒe nyatakaka si ku ɖe EDGAR.
Gomenɔla siwo ŋu woɖe mɔ ɖo koe — broker-dealers siwo woŋlɔ ŋkɔ na le nubabla te kple the Sponsor — ate ŋu awɔ alo axɔ gomekpɔkpɔwo, eye le block siwo me 10,000 le ko me, woyɔna be Kusiwo. Gadelawo dzro aɖe meka asi mɔ̃ sia ŋu gbeɖe o; woƒlea nu eye woadzra gome siwo li xoxo le asitsaƒea abe dedienɔnɔgbalẽ bubu ɖesiaɖe si woŋlɔ ɖi ene.
Mɔ̃a nye ga fifia, ke menye le nu me o. Gomenɔla si Ŋu Woɖe Mɔ Ðo tsɔa ga dea gaxɔgbalẽvi aɖe me, alo xɔa ga tso ame bubu aɖe gbɔ liquidity provider nye nusi xɔa ZEC. The ŋkɔ ŋɔŋlɔ ƒe nyatakaka hã ƒo nu tso ɖoɖo aɖe si wowɔna le nunɔamesiwo me ŋu, si me an Gomenɔla si ŋu woɖe mɔ ɖo la atsɔ ZEC ade Nudzraɖoƒea tẽ alo axɔe ZEC tso eme — gake egblɔe kɔte be "In-Kind Regulatory Approval mewɔe o." wokpɔe," eye ɖewohĩ wogakpɔe gbeɖe o.
Eyata le gadodo ƒe ɖoɖoa te la, ZEC trɔa asi le gazazã ƒe dɔwɔƒea dome kple asitsaƒea, menye le gadelawo kple Kakaɖedziha la dome gbeɖe o. Ame aɖeke mele asitsaƒea o mɔa ka Zcash adrɛs aɖe ŋu.
Fe si woxena na sponsor la nye 2.5% ƒe sia ƒe, abe alesi wòle le ŋkɔ ŋɔŋlɔ me ene. Eƒoa ƒu gbesiagbe abe a nunɔamesiwo ƒe asixɔxɔ ŋutɔŋutɔ ƒe alafa memamã eye le agbalẽa ƒe nya nu la, "woaxee le ZEC me." na Sponsor gbesiagbe le fexexe me."
Emetsonua nyea xɔtuɖoɖo tsɔ wu be wòanye nusi dzɔ le vome. Fe si woxena la dona tso.. fund ƒe ZEC, eyata ZEC ƒe agbɔsɔsɔ si le megbe na akpa ɖesiaɖe dzi ɖena kpɔtɔna vie le ɖesiaɖe ŋkeke. Gome menye ZEC ƒe agbɔsɔsɔ si woɖo ɖi si le esi ɣeyiɣi mavɔ o; enye nya si wogblɔna le esi le ɖeɖem kpɔtɔ vivivi dzi. Ame sia ame si tsɔ ZCSH ɣeyiɣi didi ƒe dɔwɔwɔ sɔ kple ZEC léle ɖe asi ko hiã ema le tsɔtsɔ sɔ kple wo nɔewo me.
Le nya siwo ƒo xlãe gome la, 2.5% nye fetu si woxena le teƒe bitcoin ETF si bɔ dzi ƒe teƒe ewo lɔƒo. Grayscale gblɔ be woatsɔ ga si woakpɔ do ŋgɔ tso sponsor fee me la aɖo ɖe megbe ɖe Zcash lãwo ƒe agbenɔnɔ ƒe ŋgɔyiyi me.
Akpa aɖe nye nuɖeɖe ɖe ZEC. Menye ZEC.
Gomenɔla mate ŋu aɖo asitsatsa si ŋu wokpɔ ta na o, mate ŋu atsɔ nuŋlɔɖi aɖe akpe ɖe eŋu o, mate ŋui o lé adrɛs ɖeka me ɖe asi, eye mate ŋu akpɔ eɖokui dzi o. Nuwo dometɔ aɖeke meli si vovototo Zcash tso nunɔamesi bubuwo gbɔ li to wrapper — la wrapper ɖea asixɔxɔ fiana eye menye nu bubu aɖeke o. Le gadelawo si ƒe taɖodzinue nye be yeaɖe ye ɖokui afia le asitsaƒe alo dzudzɔxɔxɔledɔme ƒe gakɔnta me la, nya la tututue nye ema. Elabena amesiame si ƒe ɖetsɔleme le Zcash me nye adzamenyawo, ETF menye nusi woatsɔ aɖo eteƒe o gakotoku, eye le nyateƒe me la, wo ame evea menye esiwo woate ŋu azã ɖe wo nɔewo teƒe o.
Nukokoedonamenya bubu aɖe gali le xɔa me, eye eyae nye nusi ɖa wu ɖesiaɖe le eŋu axa sia dzi. Coinbase Custody lé Trust ƒe ZEC ɖe transparent me adrɛswo, ke menye esiwo ŋu wokpɔ ta na o. Gaxɔa ƒe ga si le esi la dzena le kɔsɔkɔsɔ dzi, woate ŋu ake ɖe eŋu vaseɖe edzikpɔla gbɔ, eye amesiame si tsɔ ɖe le eme nate ŋu akpɔe le ɣeyiɣi ŋutɔŋutɔ me kpᴐ. Naneke mele gaxɔ sia me zãa adrɛs si wokpɔ ta na o.
Ema menye ɖekematsɔleme o. Wotu gaxɔ ƒe xɔtuɖoɖo siwo ŋu wowɔ ɖoɖo ɖo ɖe agbalẽdzikpɔkpɔ ŋu kple ɖaseɖiɖi, eye ga si woda ɖe akpoxɔnu me nye nusi tututu agbalẽdzikpɔla mate ŋu awɔ o woɖo kpe edzi le wo ɖokui si. Coinbase's kpekpeɖeŋu ɖea asymmetry ma ke fiana: eya axɔ ZEC si woɖo ɖa tso adrɛs si wokpɔ ta na, gake meɖo ZEC ɖe ɖeka.
Eyata dɔwɔƒe gãtɔ kekeake si si ameŋunyatakakawo ƒe nunɔamesi aɖe le la lénɛ ɖe ɖeka me agbalẽvi si me ame ŋutɔ ƒe nya aɖeke mele o. Nyatakaka nana gbɔe nya sia tso tsɔ wu be woatsoe the filings — S-3 la ƒo nu tso Trust ƒe ame ŋutɔ ƒe safuiwo dzi kpɔkpɔ ŋu gake eƒo nu tso eŋu menye dzesi adrɛs ƒomeviwo o — eye wogblɔe le afisia kple nuxlɔ̃ame ma.
Le ŋkɔ ŋɔŋlɔ me le 25 August 2026 dzi la, gaxɔa xɔ abe 387,000 ZEC, kple anɔ $313 miliɔn le dɔdzikpɔkpɔ te.
Ne èdi be yeakpɔe didi wu la: tso September 30, 2025 dzi la, agbalẽa gblɔ be Nudzraɖoƒea le esi anɔ abe 2.4% le ZEC. Xexlẽdzesi eveawo siaa drift — gbãtɔ kple ZEC ƒe asi eye kple nuwɔwɔwo kple xɔnamewo, evelia abe fe si woxena ene tso holdings — eyata xɔ xexlẽme si li fifia tso nyatakaka yeyetɔ kekeake si wotsɔ de agbalẽ me alo gaxɔa ŋutɔ ƒe gbesiagbe nyatakakawo ɖeɖe ɖe go tsɔ wu be wòatso axa sia dzi.
Wo katã nye gbãtɔwo, wo katã le EDGAR dzi le CIK 1720265 te negbe ɖe wode dzesii hafi.
Akɔntabubuwo le abe ŋkeke siwo wona ene eye woadzo. Wokpɔe le 30 September 2026 dzi. Sukudede zazã ɖeɖeko, ke menye gadodo ŋuti aɖaŋuɖoɖo o.