Zcash (ZEC) Price: Grayscale ETF Tops $1 Billion as Winklevoss Files Rival Fund

TLDR

Grayscale’s Zcash ETF, GZCSH, gathered more than $1 billion in assets in its first 30 trading days. That ranks the fund in the top 1% of all ETF launches over the past decade, by first-month inflows. Winklevoss Asset Services filed an S-1 for a separate Zcash ETF set to trade on Nasdaq under the ticker WINK. Winklevoss Capital has shown nonbinding interest in buying up to $100 million worth of shares. Grayscale also filed to tokenize two of its covered-call funds under a new SEC exemption.

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Zcash is drawing new attention in the ETF market this week. Two separate filings point to growing interest in the privacy coin from large financial firms.

Grayscale Sees a New ETF Era as Zcash ETF Hits $1B

Grayscale (@Grayscale) Managing Director Krista Lynch (@Krista_Lynch_) says issuers now have more room to choose which tokens become ETFs.

Issuers have begun exploring other cryptos besides Bitcoin and Ethereum as regulatory… pic.twitter.com/e87XPNgdq3

— BSCN (@BSCNews) October 8, 2026

Grayscale’s spot Zcash ETF, which trades under the ticker GZCSH, has gathered more than $1 billion in assets. It reached that mark within its first 30 trading days.

Krista Lynch, Grayscale’s head of trading and capital markets, shared the figures at Token2049 in Singapore. She said the fund ranks in the top 1% of ETFs launched over the past decade, based on first-month inflows.

SEC Rules Open the Door for More Tokens

Lynch said the SEC’s generic listing standards now cover about 15 tokens. That gives issuers more room to launch products based on investor demand.

Zcash (ZEC) Price

In January, Grayscale said it was weighing 27 assets across categories like AI, DeFi, and infrastructure. The firm has since narrowed its focus as the ETF market matures.

Lynch also touched on investor education. She said many conversations at Token2049 still start with basic questions about Bitcoin and Ethereum.

Trader Altcoin Sherpa also weighed in on ZEC’s price on social media this week. He pointed to the $1,200 area as a zone he is watching to potentially buy, calling ZEC one of the stronger altcoins on a relative strength basis, though he noted that drop would likely depend on Bitcoin falling toward $80,000.

Zcash’s price still tends to move with Bitcoin, based on that post. That link keeps broader market conditions a factor in how the token trades.

Grayscale is also exploring options beyond traditional ETFs. The firm filed last week to tokenize two of its 1940 Act funds.

Those two funds are a bitcoin covered-call fund and an ether covered-call fund. The filing follows a new SEC innovation exemption.

Lynch called the exemption a “consolation prize” after the Clarity Act failed to pass. She said the outcome at least removed uncertainty around the bill’s status.

Winklevoss Files a Separate Zcash ETF

A new S-1 filing shows Winklevoss Asset Services is seeking its own Zcash ETF. The fund would hold ZEC directly and trade on Nasdaq under the ticker WINK.

LATEST: ⚡ Winklevoss Asset Services filed with the SEC for a spot Zcash ETF that would trade on Nasdaq as WINK, hold ZEC directly, and charge a 0.25% sponsor fee. pic.twitter.com/OM7ZuMx6hY

— CoinMarketCap (@CoinMarketCap) October 6, 2026

The preliminary prospectus sets a sponsor fee of 0.25% annually. The fund’s goal is to track ZEC’s price, minus expenses.

Winklevoss Capital has indicated nonbinding interest in buying up to $100 million worth of shares. The firm could end up buying more, less, or none at all.

The filing is not yet approved. Securities cannot be sold until the registration statement becomes effective with the SEC.

Zcash brings a different regulatory conversation than Bitcoin or Ethereum ETFs. Privacy sits at the center of the network’s design, so regulators will need to review how that works inside a public fund.

Grayscale was also among several crypto firms last month that asked the SEC to speed up ETF reviews. The firms requested that the agency allow confidential draft filings.

The Winklevoss S-1 was filed this week, adding a second Zcash ETF contender to the market alongside Grayscale’s existing fund.

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