Zcash ETF’s $1 billion haul signals broader shift in crypto funds, Grayscale says

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The growing range of crypto ETFs is pushing the market beyond Bitcoin and Ether, with issuers becoming more selective about which digital assets can attract enough investor demand, according to Grayscale.

Grayscale Managing Director Krista Lynch said the US Securities and Exchange Commission’s generic listing standards have created a framework covering about 15 tokens. This gives issuers more scope to select assets based on market demand and their own investment views.

Grayscale’s Zcash ETF is an early example of this shift. The fund attracted more than $1 billion during its first 30 trading days, placing it among the top 1% of all ETFs launched over the past decade based on assets gathered during their first month.

Grayscale said in January that it was considering 27 digital assets across areas including artificial intelligence, decentralised finance, consumer applications and infrastructure.