Grayscale Just Launched the First-Ever ETF for Zcash (ZEC). Here's Why That's Big News for Crypto Investors.
This is an important development for investors engaged with Zcash.
Overview
There are nearly 8,100 digital currencies on the market today, but among those that make the cut as legitimate additions to the world of exchange-traded funds (ETFs), the universe is much, much smaller.
One way of looking at that scenario is that now, more than two-and-a-half years since the first spot Bitcoin (CRYPTO: BTC) ETFs came to market in the U.S., it's still kind of a big deal when new spot crypto ETFs appear. It's all the more meaningful when considering that some large fund sponsors won't expand their crypto ETF lineups beyond Bitcoin and Ethereum (CRYPTO: ETH), the two largest digital currencies by market capitalization.
This new Zcash ETF could user new adoption of that cryptocurrency. Image source: Getty Images.
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Originally published at www.fool.com.