Grayscale Bets $1 Million on Zcash as Privacy Coin Tumbles
Grayscale plans to direct $1 million from its Zcash ETF fees to ecosystem nonprofits and launched a national ad campaign, as ZEC fell more than 11%.
Grayscale plans to direct $1 million from its Zcash ETF fees to ecosystem nonprofits and launched a national ad campaign, as ZEC fell more than 11%.
Grayscale’s Zcash push comes as its ETF faces continued withdrawals, extending October’s net outflows.
Orders use revocable wallet permissions and a default 3% price tolerance. Reaching the target price does not guarantee a fill.
US inflation came in above forecasts in October, increasing expectations of a bigger rate hike in December and raising concerns for crypto investors.
The US exchange recorded $14.77 billion in October face-value turnover, while its fees vary by contract price, product and trader tier.
The ANT contract references one Class A share, but gives traders no equity or IPO allocation rights and is expected to continue trading after the listing.
ZCSH trades on NYSE Arca and held $675.7 million in assets as of Nov. 9. Its prospectus sets a 2.5% annual sponsor fee.
The Claude developer is also lining up $26 billion from Nvidia, Google and other tech giants in a private placement alongside the listing.