Grayscale Files for 2x Zcash ETF Using Futures and Options

Grayscale has filed for the 2x Zcash ETF, an actively managed fund seeking roughly 200% of ZEC’s daily performance without holding Zcash directly. The ETF would gain leveraged exposure primarily through Coinbase-listed ZEC perpetual-style futures and options on a Zcash exchange-traded product, with swaps used to a lesser extent. Exposure would be reset daily, making returns highly path-dependent over periods longer than one day. The fund may also use a Cayman subsidiary for commodity derivatives and hold Treasuries, money-market instruments and other collateral to support its positions.