During this period, the SEC was involved in a single crypto-related regulatory development. Grayscale filed a fifth amended registration with the SEC to convert its Zcash Trust into a spot ETF, which began trading on August 25. The news drove ZEC to an eight-year high above $850, with a weekly gain exceeding 66%.
- Grayscale filed a fifth amended registration with the SEC to convert its Zcash Trust into a spot ETF (ZCSH) on NYSE Arca; the ETF began trading on August 25, holding 387,849 ZEC with a 2.5% sponsor fee.
- Driven by the ETF launch, ZEC surged to an eight-year high above $850, posting a weekly gain of over 66%.
- The rally was also supported by a broader crypto market upswing tied to Treasury bond-buyback announcements and short liquidations.