Grayscale Files Fifth Amendment for Zcash ETF

Grayscale's repeated amendments suggest it is working through SEC comments rather than filing a fresh product, which is how these applications typically advance or stall. A privacy-coin vehicle is a harder case than a plain bitcoin or ether fund, since the underlying asset's compliance profile is itself the debate. The question worth watching is whether the SEC treats Zcash's privacy features as a disclosure problem or a disqualifier.