Grayscale Bets $1 Million on Zcash as Privacy Coin Tumbles
Summary
Grayscale plans to direct up to $1 million in fees from its Zcash ETF to ecosystem nonprofits and projects during the fund’s first year, with $400,000 already awarded to four groups. It has also launched an educational site and a national advertising campaign. The commitment is voluntary and may be changed or ended. The push comes as ZEC has fallen about 19% over 30 days and 11.3% in 24 hours, despite remaining up roughly 75% year over year. Grayscale faces growing competition from a proposed US Zcash ETF and a European exchange-traded product.
