Grayscale Debuts First Zcash ETF as Privacy Coin Surges

Grayscale launched the first fund offering direct exposure to Zcash, listing under ticker ZCSH on NYSE Arca. The product converts the firm's existing trust, which held more than $313.5 million in assets as of the prior session.

The 2.5% fee will be directed back into the Zcash ecosystem to bolster the network and its broader development, a spokesperson said. Head of Index Steve Vanourny tied the launch to artificial intelligence reshaping how financial activity can be monitored.

Demand for genuine financial privacy will only grow under that pressure, Vanourny argued, calling the asset a compelling long-term holding delivered through a structure investors already recognize. The token climbed 45% across recent days ahead of the fifth amended registration statement.

An earlier amendment revealed a Digital Currency Group subsidiary weighing acquisition of roughly 200,000 tokens through the trust. Grayscale has converted several vehicles over the years, including its bitcoin and ethereum funds after a protracted court fight with the SEC.

Coinbase Brings Tokenized Stocks to Ethereum Layer 2 Base

Coinbase-issued tokenized stocks went live on Base for eligible users outside the United States, opening with fractional Apple and Nvidia shares. Each token represents a share held by regulated broker Alpaca, granting holders a direct claim rather than derivative exposure.

Users can keep tokens in self-custody wallets, trade them on Aerodrome, or post them as collateral on Aave. The B20 standard processes dividends and splits without disturbing balances, letting tokenized equities trade through always-on pools at any hour.

Arcus Turns Perpetual Accounts Into Transferable Tokens

Arcus launched its pToken protocol on Robinhood Chain, letting traders convert managed perpetual accounts into ERC-20 assets that move across lending markets. The exchange was built by the team behind dYdX in partnership with Robinhood Crypto.

Each token carries a pro-rata stake in an underlying account at fixed market and leverage levels, spanning products like pBTC3x and leveraged stock tokens. Robinhood Chain has generated over $600 million locked and $26 billion in cumulative DEX volume since July.

LayerZero Unveils Trading Infrastructure as ZRO Surges

LayerZero introduced ATLAS, an engine combining trade matching, clearing, settlement, and risk management atop its Zero blockchain. The token jumped roughly 30% on plans spanning spot crypto, perpetuals, stocks, bonds, and prediction markets.

Venues plug into the backend while keeping their own interfaces, with separate open and institutional configurations. Trading fees feed a buy-and-burn mechanism consuming 75% of residual revenue, arriving after protocols fled LayerZero bridging following the $292 million Kelp DAO exploit.

Data of the Day

Bitcoin-denominated futures open interest fell to a five-month low of roughly 587,584 BTC, down from 645,760 on August 14, even as spot surged from $62,000 to $80,000. Short covering rather than fresh longs drove the move.

Annualized funding rates held below 10%, pointing to only moderate bullish positioning across perpetuals. Crypto-margined open interest hit an all-time low near 52,000 BTC, making the market structurally steadier since cash collateral holds value during selloffs.

More Breaking News

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• Strategy sold $2 billion in MSTR shares without buying bitcoin, establishing a $1.59 billion USD Cash pool as its bitcoin treasury stayed at 840,447 coins.
• Security firm Socket confirmed 40 malicious Firefox extensions impersonating OKX, Rabby, and TronLink to harvest recovery phrases, with nine first published as sports-score apps.
• Crypto exchange volumes doubled in five days to $37 billion, though August's $490 billion monthly tally still trails July as ETFs and onchain venues siphon flow.
• Galaxy put Coldcard losses at 1,789 BTC across 8,865 addresses, with 87% still sitting unmoved in attacker-controlled wallets shared with exchanges and law enforcement.
• The US can now sanction anyone operating in Iran's crypto sector under a Treasury determination, naming a broker accused of processing $100 million in payments for the Qods Force.
• Thailand advanced draft rules for spot bitcoin and ether funds, requiring 80% average net exposure and listings on the exchange used by Thai traders, with consultation closing September 20.
• A Las Vegas businessman faces 280 years after a $24 million fraud conviction, having promised 400 investors fixed returns from an AI supercomputer that mined crypto.