Grayscale: Zcash ETF Tops $1B as Crypto ETF Market Enters New Phase

The notable shift here is regulatory plumbing rather than any single product: listing standards extending across a broader set of tokens lowers the procedural barrier for issuers that previously had to clear a higher, slower bar. That matters most for asset managers weighing niche exposures, since the economics of launching a fund improve once the pathway is standardized. Whether the Zcash vehicle's scale reflects durable demand or a first-mover effect is the open question, and whether issuers actually use the wider runway is what to watch.