ZEC Futures OI Tops DOGE & BNB as Grayscale Zcash ETF to Launch on August 25

Grayscale has updated its S-3 form for the Zcash ETF with the US SEC, revealing fees and other key details. The crypto asset manager eyes listing the spot exchange-traded fund on NYSE Arca on August 25, causing ZEC to overtake Dogecoin (DOGE) and BNB in futures open interest.

Grayscale Zcash ETF Files S-3 Amendment and 8-K to Confirm August 25 Launch

Grayscale submitted amendment no 5 to its S-3 registration statement for its Zcash ETF, according to the latest US SEC filing. The issuer aims to convert its Grayscale Zcash Trust to spot ETF and list shares on NYSE Arca under the ticker ZCSH.

In the latest amendment, Grayscale revealed a management fee of 2.5%. The sponsor’s fee is payable in ZEC. However, the issuer has not announced any fee waiver.

“The Sponsor intends to use 100% of the Sponsor’s Fee received from the Trust for up to the 12 months following the effectiveness of this registration statement for marketing activities in support of the Trust and initiatives that support the development, marketing and education of the Zcash Network, it added.

Grayscale Zcash ETF maintained the language to reflect that it does not permit in-kind redemptions yet. The issuer remains in discussions with DCG International Investments Ltd for a potential contribution of 200,000 ZEC in exchange for shares.

In an 8-K filing with the SEC, Grayscale Zcash ETF is expected to begin trading on NYSE Arca on or about August 25. “No assurance can be given that the Shares of the Trust will list and trade on the Sponsor’s anticipated timeline, or at all,” it added.

ZEC Price Rally, Surpassing DOGE & BNB in Futures Open Interest

ZEC price jumped more than 7% in the past 24 hours, with the price currently trading at $842. The 24-hour low and high were $784 and $885.42, respectively. However, trading volume has decreased by almost 8% in the last 24 hours despite the Grayscale Zcash ETF.

CoinGlass data showed massive buying sentiment in the derivatives market. The total ZEC futures open interest jumped 12% to $1.91 billion in the last 24 hours, flipping DOGE and BNB.

ZEC futures OI on Binance climbed almost 8%, while it climbed almost 17% on Hyperliquid, 12% on OKX and 15% on Bybit. It indicates massive interest among investors.

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