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Wall Street Lists Privacy Coins: Grayscale’s Zcash ETF Irony
Grayscale turns Zcash into NYSE ETF ZCSH at 2.5% fee, highlighting the privacy paradox; plus Coinbase tokenizes big tech on Base (ex-US), BTC rejection at $81k, Hyperliquid and leverage risks.
Editorial companion
What stands out
Scott Melker nails the irony: Grayscale is turning a Zcash trust into a New York Stock Exchange Exchange-Traded Fund (ETF), ticker ZCSH, charging 2.5% while selling a product built on a token once treated like contraband. Coinbase is simultaneously tokenizing Apple, Nvidia, Meta and Alphabet shares on Base with real voting rights, available to everyone except Americans. Those two moves show Wall Street will productize any demand, and they force investors to reckon with how regulation, custodial wrappers and fees change the economics and privacy of crypto exposure.