Grayscale Plans to Allocate USD 1 Million to Support the Zcash Ecosystem; USD 400,000 Already Funded

TechFlow reported on November 10 that, according to a Grayscale announcement, Grayscale launched the Zcash Invest education platform for investors and investment advisers and plans to invest USD 1 million in nonprofit organizations and projects advancing the Zcash ecosystem.

Grayscale said the first USD 400,000 has been awarded to the Zcash Foundation, Pretty Good Policy for Zcash, Shielded Labs, and Project Tachyon, with each receiving USD 100,000.

Grayscale also plans to use all sponsor fees received by the Zcash ETF (ZCSH) during its first year as an exchange-traded product to support the fund as well as development, marketing, and education initiatives for the Zcash network. This arrangement is voluntarily undertaken by the sponsor and may be modified or terminated at the sponsor's discretion.

Source: TechFlow