Grayscale has submitted an application to convert its Zcash Trust into a spot ETF.

According to BlockBeats, on May 12, Grayscale submitted an application to convert its Zcash Trust into a spot ETF. If approved, this would become the world's first privacy coin spot ETF. At the same time, the US SEC has previously concluded its long-term review of privacy coins without taking enforcement action, removing key regulatory obstacles.