Grayscale Files for Privacy-Focused ETF
Grayscale, a prominent digital asset management firm, has proposed a new exchange-traded fund (ETF) centered around privacy. This ETF, if approved, will invest primarily in data privacy solution providers, cybersecurity companies, blockchain-based privacy solutions, and network security companies.
ZEC’s Reaction
The privacy-focused cryptocurrency Zcash (ZEC) saw a significant surge in value following the news of Grayscale’s ETF proposal. ZEC jumped over 20%, rising from around $24.24 to a high of $29.21. However, it has since retraced partially and is currently trading at $26.89.
ETF Investment Criteria
To be included in the Grayscale Privacy ETF’s investment portfolio, companies must be publicly listed on a stock exchange and have a market capitalization of at least $250 million.
Grayscale’s Previous ETF Approval
In January, Grayscale was among the 11 firms that received approval from the SEC to launch a spot Bitcoin (BTC) ETF. The firm converted its flagship product, the Grayscale Bitcoin Trust (GBTC), into an exchange-traded fund listed on the NYSE Arca exchange.
Disclaimer
Opinions expressed in this article do not constitute investment advice. Investors should conduct thorough research before making high-risk investments in Bitcoin, cryptocurrencies, or digital assets.
