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Grayscale is the world's largest crypto asset manager. It provides access and exposure to the digital currency asset class in the form of a security, without the challenges of buying, storing, and safekeeping digital currencies directly.
Grayscale Says U.S. Crypto Regulation Can Advance Without CLARITY Act
Odaily News: Zach Pandl, Head of Research at digital asset management firm Grayscale, said in an analysis on September 10 that even if Congress fails to pass the CLARITY Act this year, U.S. crypto regulation can still advance in areas such as stablecoins, token issuance, tokenized securities, and perpetual futures.U.S. President Donald Trump signed the GENIUS Act on July 18, 2025, establishing a regulatory framework for the issuance of payment stablecoins. The law requires issuers to hold full reserves and publicly disclose the composition of reserves on a monthly basis, and prohibits misleading claims that tokens are federally insured, backed by the U.S. government, or legal tender.The U.S. Securities and Exchange Commission (SEC) has proposed Regulation Crypto Assets, which would allow qualifying projects to raise no more than $5 million over four years, or no more than $75 million in any 12-month period. The related exemptions and investment contract safe harbor remain in the proposal stage, with the public comment period closing on October 20.The near-term procedural milestone for the CLARITY Act is a cloture vote on the motion to proceed scheduled for September 15. This procedural vote requires 60 votes to pass and is not a final vote. Grayscale said the bill would still help clarify the division of regulatory authority between the SEC and the Commodity Futures Trading Commission (CFTC), but its failure to pass would not halt regulatory measures already underway. (Bitcoin.com News)
Zcash mining rewards per solo machine are about 2x Bitcoin's, with roughly 4x higher reward per unit of electricity
Odaily News: Crypto asset management firm Grayscale estimates that Zcash mining rigs generate daily mining rewards roughly 2x those of Bitcoin mining rigs, and about 4x on a per-unit-of-electricity basis. Zcash mining activity has grown to more than 2.5x its level at the start of the year.Zach Pandl, head of research at Grayscale, said that at current valuations, Zcash mining profitability is relatively high, as token price gains have driven up mining rewards and encouraged more hash rate to join. Grayscale believes that more hash rate can support network security.The comparison uses the Bitmain S23 Hydro and Bitmain Z15 Pro as samples, assuming an electricity price of $0.05 per kilowatt-hour, full-load operation, and excluding transaction fees. Pool fees, cooling, other operating expenses, and equipment costs are not included in the calculation, and actual profitability is still affected by these factors.Bitcoin miners' total daily rewards are about $35 million, higher than Zcash's roughly $2 million. Grayscale's Zcash investment product assets under management surpassed $500 million on September 8 and recorded more than $70 million in cumulative external inflows. (Bitcoin.com News)
Grayscale: U.S. Household Stock Allocation Rises to 46.71%, Crypto Assets Present Diversification Opportunities
Odaily News: Digital asset manager Grayscale stated that as of the end of 2025, direct and indirect holdings of corporate stocks in U.S. household financial assets reached 46.71%, up from 43.99% a year earlier. Grayscale Head of Research Zach Pandl noted that the rising concentration in stock holdings and elevated valuations have increased the opportunity for crypto assets to be used for portfolio diversification.Grayscale stated that consensus expectations for long-term earnings growth of the S&P 500 index rose above 25% on August 28, significantly higher than the historical range typically concentrated between 10% and 15%. The firm believes that after the market correction in crypto assets, valuations, leverage levels, and investor long positioning have all declined.Data released by Grayscale shows that Bitcoin's 90-day correlation with the Nasdaq 100 index has fallen from above 60% to approximately 33%, while its correlation with gold has risen from near zero to over 50%. Grayscale also noted that Bitcoin's historical volatility is higher than broad equity indexes, and it does not always act as a safe-haven asset. (Bitcoin.com News)
Crypto industry stakeholders submit differentiated rule proposals to SEC on novel ETF regulation
Odaily News Crypto enterprises, asset managers, market makers, and consumer advocacy groups have submitted comments to the U.S. Securities and Exchange Commission (SEC) in response to its request for input on the regulatory framework for "novel ETFs," covering exchange-traded products such as crypto assets, private assets, event contracts, and leveraged strategies.Crypto industry organization Crypto Council for Innovation (CCI) recommended extending certain regulatory accommodations applicable to ETFs to non-ETF exchange-traded products. Venture capital firm Andreessen Horowitz (A16z) stated that the SEC should assess products based on their underlying assets and risk profiles, rather than treating all novel ETFs as a single category.Grayscale opposed adding new portfolio restrictions for mature digital asset products, while Chainalysis suggested leveraging public blockchains to enable real-time monitoring and verifiable disclosures. Kalshi expressed support for including event contracts in registered funds, whereas consumer advocacy group Public Citizen opposed offering event contract ETFs to retail investors. The SEC will evaluate whether to adopt a unified regulatory framework or craft separate rules based on product structure and risk. (Decrypt)
Grayscale: SEC's Proposed Token Financing Rules Could Benefit ETH, SOL, and BNB
According to Bitcoin.com, Zach Pandl, Head of Research at Grayscale, stated that the U.S. Securities and Exchange Commission's (SEC) proposed regulations on crypto assets could increase network activity on Ethereum, Solana, and BNB Chain by reducing compliance uncertainties surrounding token financing, driving more U.S. issuers and investors to go on-chain, and potentially creating value for their native tokens ETH, SOL, and BNB.
Grayscale releases research report: Zcash may see a revaluation opportunity in the privacy sector.
According to a Grayscale research report, as AI-driven financial monitoring capabilities continue to expand, the demand for financial privacy is experiencing a third wave of renewed interest, potentially benefiting Zcash (ZEC). The report notes that Zcash’s zero-knowledge proof-based shielded transaction technology conceals the sender, recipient, and transaction amount, establishing a differentiated positioning compared to Bitcoin’s transparent on-chain records. Current on-chain data shows that shielded transactions now account for approximately 90% of Zcash’s total network transaction volume, while shielded supply has reached around 4.2 million ZEC, representing 25% of the circulating supply, with both figures hitting all-time highs. In terms of valuation, ZEC holds a market capitalization of approximately $8 billion, accounting for only 0.6% of the total market cap within Grayscale's "Cryptocurrency Monetary Sector". If its market share increases to 5%, the theoretical valuation space would be roughly nine times the current level. The report also cautions that Zcash faces multiple risks, including regulatory compliance, legacy issues from historical trusted setups, quantum computing threats, and protocol upgrade execution challenges, requiring investors to conduct prudent assessments.
US SEC Proposes Overhaul of Accredited Investor Rules, 15 Years Later, DCG Founder's Suggestion May Finally Come to Fruition
Odaily reports: Grayscale's parent company DCG posted on X platform that last week the U.S. Securities and Exchange Commission (SEC) proposed reforming the accredited investor system, allowing certain investors to qualify for participation in private markets through examinations and other means. This measure was similar to a suggestion made by DCG founder Barry Silbert as early as 2011.It is reported that around 2011, while founding SecondMarket, Barry Silbert proposed that the SEC's "accredited investor" system mainly relies on income and net worth standards, but wealth level does not necessarily represent investment capability. Some high-net-worth individuals may not possess sufficient financial knowledge, while some ordinary investors should also have the opportunity to qualify for participation in private markets if they pass financial literacy tests set by regulators.
U.S. SEC Plans to Reform the Accredited Investor Framework, 15-Year-Old Proposal from Grayscale Parent DCG Founder Will Finally Be Implemented
DCG, the parent company of Grayscale, posted on the X platform stating that last week the U.S. Securities and Exchange Commission (SEC) proposed reforms to the accredited investor framework, allowing certain investors to qualify for participation in private markets through mechanisms such as taking proficiency exams. This initiative echoes similar recommendations made by DCG founder Barry Silbert more than 15 years ago. According to reports, during the establishment of SecondMarket around 2011, Barry Silbert noted that the SEC's "accredited investor" regime primarily relies on income and net worth thresholds, but wealth does not necessarily equate to investment competency. While some high-net-worth individuals may lack adequate financial expertise, ordinary investors who pass financial literacy examinations administered by regulators should also be granted the opportunity to access private markets.
ETF Store President: SEC Approves First Batch of 3x Leveraged Bitcoin and Ethereum ETFs for Trading
Odaily News: Nate Geraci, President of ETF Store, stated that the U.S. SEC has approved the first batch of 3x leveraged Bitcoin and Ethereum ETFs for listing and trading. Recent SEC filings show that the related products include ETFs seeking to achieve 3x the daily performance of Bitcoin or Ethereum.Geraci noted that less than three years ago, the SEC's lawsuit with Grayscale over a standard spot Bitcoin ETF had not yet concluded, and now the regulatory environment has changed significantly.
Blockchain Association Launches Vaults Workflow, Uniting Dozens of Member Institutions to Drive Policy Formulation
According to a post by the Blockchain Association (@BlockchainAssn), the Blockchain Association has officially launched the Vaults Workstream, bringing together dozens of leading member organizations including a16z Crypto, Aave, Uniswap, Grayscale, dYdX Foundation, Ethena, Morpho, and Multicoin to participate in Washington-based policy discussions on on-chain finance. As an emerging component of on-chain finance infrastructure, Vaults can provide users with diverse asset exposure, support composable and personalized investment strategies, and offer high flexibility in manual control, governance, and risk management. Members of this workstream will engage directly with the SEC to assist legislators in understanding Vault mechanics and the applicability of existing regulatory frameworks, with the goal of aligning regulatory rules with technological development to ensure the United States maintains its leading position in on-chain financial innovation.
Privacy coin sector market cap increased by $24.54 billion over 5 months, with ZEC and XMR leading growth
Odaily News: Over the past five months, the market cap of the privacy coin sector grew from $11.97 billion to $36.51 billion, an increase of $24.54 billion, or approximately 205%. Among them, Zcash (ZEC) market cap increased by $20.27 billion, while Monero (XMR) increased by $4.33 billion.In January, the U.S. Securities and Exchange Commission (SEC) concluded its investigation into the Zcash Foundation without recommending enforcement action. On August 25, digital asset management company Grayscale converted Zcash Trust into the ZCSH spot ETF and listed it on NYSE Arca, making it the first listed privacy coin spot ETF in the United States.On September 8, Digital Currency Group (DCG) exchanged ZEC for approximately $100 million worth of ZCSH ETF shares. During the same period, the price of ZEC rose from $319 to $1,507, while XMR rose from $330 to $555. (Bitcoin.com News)
Grayscale: US SEC "Innovation Exemption" May Drive Real Tokenized US Stocks into the US Regulated System
Odaily News: Zach Pandl, Head of Research at Grayscale, noted in a post that the US Securities and Exchange Commission's (SEC) recently issued "Innovation Exemption" order is expected to fundamentally transform the landscape in which tokenized US stocks have primarily relied on offshore "wrapped derivative" trading, and to drive real tokenized stocks with full shareholder voting rights and dividend rights into the US regulated financial system. The exemption order has a duration of 5 years and specifically relaxes two core registration requirements: qualified tokenized trading venues would not need to register as traditional securities exchanges; and qualified liquidity providers would not need to register as broker-dealers.Grayscale believes this marks that on-chain trading infrastructure is proving fully compatible with regulatory compliance and investor protection, and is expected to drive Congress to advance a broader bipartisan legislative process in the future.
Bitcoin spot ETF net inflows reached $66.19 million yesterday.
According to data from Trader T, Bitcoin spot ETFs recorded an overall net inflow of $66.19 million on September 29. BlackRock IBIT saw a net inflow of $51.09 million, ARK Invest ARKB registered a net inflow of $33.24 million, Bitwise BITB experienced a net outflow of $18.14 million, while other ETFs such as Fidelity FBTC and Grayscale GBTC reported zero net inflows and outflows for the day. On the same day, the 30-year U.S. Treasury yield reached a 24-year high, with Bitcoin's price hovering around $82,600.
Yesterday, Ethereum spot ETFs recorded a net outflow of $2.81 million.
According to data monitored by Trader T, Ethereum spot ETFs experienced an overall net outflow of $2.81 million on September 29. Among them, Grayscale Mini ETHE recorded a net inflow of $12.83 million, BlackRock ETHA saw a net outflow of $8.94 million, and Fidelity FETH had a net outflow of $6.70 million. The remaining Ethereum spot ETFs recorded zero net inflows and outflows for the day.
Yesterday, US spot Bitcoin ETFs recorded a net inflow of $31.07 million.
According to Trader T data, the total net inflow into US Bitcoin Spot ETFs was $31.07 million on September 28. Specifically, BlackRock IBIT saw a net inflow of $54.84 million, Grayscale BTC (Mini Trust) recorded a net inflow of $10.32 million, Fidelity FBTC had a net outflow of $10.90 million, Grayscale GBTC experienced a net outflow of $23.19 million, and all other products had zero fund flows.
Grayscale Zcash ETF Assets Reach $1 Billion, Net Inflows Account for Less Than 30%
Odaily News — Digital asset management firm Grayscale's Zcash ETF (ZCSH) reached $1 billion in net assets as of September 24, with cumulative net inflows of $306.12 million, accounting for less than 30%. The fund began trading on NYSE Arca on August 25 and surpassed $500 million in assets within two weeks.ZCSH was renamed from Grayscale Zcash Trust, which was established in October 2017 and already held ZEC at the time of listing; meanwhile, the price of ZEC has roughly doubled since the ETF's listing, driving the fund's asset growth. On September 8, Grayscale's parent group DCG International Investments exchanged 85,705.32563297 ZEC for approximately $100 million in ZCSH shares. Excluding this non-cash transaction, external new capital amounted to approximately $200 million.Grayscale will implement a 3-for-1 forward split before market open on September 30, applicable to holders of record at the close of business on September 28. After the split, the net asset value per share is expected to drop to approximately one-third, the number of shares will triple, and the dollar value of holdings will remain unchanged. (Bitcoin.com News)
U.S. Ethereum spot ETF recorded a net inflow of $105 million yesterday.
According to Trader T data, on September 23, total net inflow into US spot Ethereum ETFs reached $104.64 million, with a cumulative net inflow of $723.9 million since September and $1.66 billion for the year in 2026. BlackRock ETHA and Fidelity FETH recorded net inflows of $50.80 million and $41.28 million respectively, while the Grayscale Ethereum Mini Trust saw a net outflow of $4.09 million.
Yesterday, Ethereum spot ETF net inflows reached $162.31 million.
According to Trader T data, Ethereum spot ETFs recorded a total net inflow of $162.31 million on September 22. BlackRock's ETHA saw a net inflow of $88.13 million, Fidelity's FETH saw $33.64 million, Grayscale Mini ETH and ETHE recorded net inflows of $27.31 million and $10.39 million respectively, BlackRock's staking ETHB saw $2.84 million, and net flows for other products were zero.
Grayscale Research: Bitcoin Is Returning to Its "Currency Depreciation Trade" Attribute, Zcash May Become One of the Biggest Beneficiaries
According to the latest report released by Grayscale Research Director Zach Pandl, as U.S. federal debt surpasses $40 trillion, Bitcoin's 90-day correlation with the Nasdaq 100 Index has dropped from over 60% to approximately 33%, while its correlation with gold has risen from near zero at the start of the year to above 50%, indicating that Bitcoin is shifting from a high-beta risk asset to an inflation-resistant store of value. Grayscale believes that expanding fiscal deficits and rising long-end interest rates will drive investors toward scarce alternative assets, positioning Bitcoin, Ethereum, and Zcash as primary beneficiaries. Among them, Zcash, featuring financial privacy, quantum resistance, and cross-chain interoperability, is considered to have the potential to challenge Bitcoin's network effect, despite its market capitalization currently accounting for less than 1% of Bitcoin's. Additionally, Grayscale notes that the current Bitcoin bear market has persisted for roughly 10 months, approaching the historical average bear market cycle of 11–12 months. Coupled with a macroeconomic environment that is becoming increasingly supportive, it suggests that current prices may represent a favorable entry point for long-term investors.
Grayscale launches Zcash ETF, trading on NYSE Arca following key privacy vulnerability fix
Odaily News - Digital asset manager Grayscale's Zcash ETF began trading on NYSE Arca on Tuesday under the ticker ZCSH. The product is the world's first exchange-traded product offering spot exposure to Zcash, allowing investors to track ZEC prices through securities accounts without needing to directly purchase or store the token.ZCSH was formerly known as the Grayscale Zcash Trust, established in October 2017 through a private placement. Grayscale filed an application with the U.S. Securities and Exchange Commission in November 2025 to convert the trust into an ETF, with shareholders holding shares that track the fund's ZEC holdings rather than holding ZEC directly.In May of this year, security researcher Taylor Hornby, using Anthropic's Claude Opus 4.8, discovered a vulnerability in Zcash's Orchard shielded pool that had existed for four years, which could potentially allow attackers to mint counterfeit ZEC. Developers deployed an emergency patch on June 1, but due to privacy mechanisms, it was not possible to cryptographically confirm whether the vulnerability had been exploited.Zcash activated the Ironwood upgrade in July, replacing Orchard with a new shielded pool and introducing accounting rules that limit the amount of ZEC exiting the old shielded pool to no more than the amount entering. Grayscale stated it will monitor the adoption of the Ironwood upgrade, network security, exchange support, and regulatory conditions for privacy assets. (Decrypt)
Blockchain Association Launches Vaults Workflow, Uniting Dozens of Member Institutions to Drive Policy Formulation
According to a post by the Blockchain Association (@BlockchainAssn), the Blockchain Association has officially launched the Vaults Workstream, bringing together dozens of leading member organizations including a16z Crypto, Aave, Uniswap, Grayscale, dYdX Foundation, Ethena, Morpho, and Multicoin to participate in Washington-based policy discussions on on-chain finance. As an emerging component of on-chain finance infrastructure, Vaults can provide users with diverse asset exposure, support composable and personalized investment strategies, and offer high flexibility in manual control, governance, and risk management. Members of this workstream will engage directly with the SEC to assist legislators in understanding Vault mechanics and the applicability of existing regulatory frameworks, with the goal of aligning regulatory rules with technological development to ensure the United States maintains its leading position in on-chain financial innovation.
Grayscale: This Fed rate hike differs from the 2022 tightening cycle
Odaily reports: Digital asset management company Grayscale stated in an analysis published on September 17 that the latest Federal Reserve rate hike is closer to a "mid-cycle adjustment" rather than a major monetary policy shift.The Federal Open Market Committee raised the target rate range by 25 basis points to 3.75%–4% on September 16, stating that the hike aims to bring inflation back to the 2% target in a more timely manner. Grayscale believes that this rate hike, along with a possible second hike later this year, is unlikely to cause major changes in the digital asset market.Grayscale noted that from March 2022 to July 2023, the Federal Reserve raised rates by a cumulative 525 basis points, with sustained tightening increasing returns on cash and yield-bearing assets and raising the opportunity cost of holding Bitcoin; the current environment, by contrast, is a single rate hike following years of hikes, cuts, and holding steady.Grayscale stated that the impact of rate hikes will vary by crypto business model. Stablecoin issuers could benefit from increased interest income on reserve assets, and higher yields on tokenized bonds and money market funds could also attract capital inflows into on-chain financial products. On September 17, Bitcoin briefly rose above $77,000, with short position liquidations in the crypto market reaching nearly $260 million during the rebound. (Bitcoin.com News)
Grayscale Says U.S. Crypto Regulation Can Advance Without CLARITY Act
Odaily News: Zach Pandl, Head of Research at digital asset management firm Grayscale, said in an analysis on September 10 that even if Congress fails to pass the CLARITY Act this year, U.S. crypto regulation can still advance in areas such as stablecoins, token issuance, tokenized securities, and perpetual futures.U.S. President Donald Trump signed the GENIUS Act on July 18, 2025, establishing a regulatory framework for the issuance of payment stablecoins. The law requires issuers to hold full reserves and publicly disclose the composition of reserves on a monthly basis, and prohibits misleading claims that tokens are federally insured, backed by the U.S. government, or legal tender.The U.S. Securities and Exchange Commission (SEC) has proposed Regulation Crypto Assets, which would allow qualifying projects to raise no more than $5 million over four years, or no more than $75 million in any 12-month period. The related exemptions and investment contract safe harbor remain in the proposal stage, with the public comment period closing on October 20.The near-term procedural milestone for the CLARITY Act is a cloture vote on the motion to proceed scheduled for September 15. This procedural vote requires 60 votes to pass and is not a final vote. Grayscale said the bill would still help clarify the division of regulatory authority between the SEC and the Commodity Futures Trading Commission (CFTC), but its failure to pass would not halt regulatory measures already underway. (Bitcoin.com News)
Zcash mining rewards per solo machine are about 2x Bitcoin's, with roughly 4x higher reward per unit of electricity
Odaily News: Crypto asset management firm Grayscale estimates that Zcash mining rigs generate daily mining rewards roughly 2x those of Bitcoin mining rigs, and about 4x on a per-unit-of-electricity basis. Zcash mining activity has grown to more than 2.5x its level at the start of the year.Zach Pandl, head of research at Grayscale, said that at current valuations, Zcash mining profitability is relatively high, as token price gains have driven up mining rewards and encouraged more hash rate to join. Grayscale believes that more hash rate can support network security.The comparison uses the Bitmain S23 Hydro and Bitmain Z15 Pro as samples, assuming an electricity price of $0.05 per kilowatt-hour, full-load operation, and excluding transaction fees. Pool fees, cooling, other operating expenses, and equipment costs are not included in the calculation, and actual profitability is still affected by these factors.Bitcoin miners' total daily rewards are about $35 million, higher than Zcash's roughly $2 million. Grayscale's Zcash investment product assets under management surpassed $500 million on September 8 and recorded more than $70 million in cumulative external inflows. (Bitcoin.com News)
Grayscale: Even as the CLARITY Act faces obstacles, U.S. crypto regulation continues to gain clarity across multiple areas.
Grayscale Research head Zach Pandl stated that the U.S. CLARITY Act, aimed at establishing comprehensive regulations for the cryptocurrency market, will face a Senate procedural vote on September 15, requiring 60 votes to advance. Since Republicans currently hold 53 seats, the bill requires Democratic support to move forward, and prediction markets show a low probability of its passage by 2026.
SEC to Determine Confidentiality and Review Speed of Crypto ETF Filings, Grayscale, A16z and Others Split with Jane Street, Charles Schwab
Odaily News The U.S. Securities and Exchange Commission (SEC) has published responses to its request for comments on "Novel ETFs," funds that may hold crypto assets or employ unconventional strategies. The divergence in opinions centers on whether filing documents should remain public before the fund begins trading, and how fast the review process should be.Crypto asset manager Grayscale and the crypto policy organization Crypto Council for Innovation (CCI) support an optional confidential filing period to reduce the likelihood of competitors submitting imitation filings. Charles Schwab opposes full confidentiality and suggests disclosing filings at least 75 days before a fund launches.Grayscale requests the SEC to respond within 45 days, while CCI argues that the confidential process should not extend the automatic effectiveness or review deadlines. Venture capital firm Andreessen Horowitz (A16z) supports shortening the review timeline but emphasizes that the rigor of the review should not be reduced. Trading firm Jane Street, however, contends that accelerating the process could lead to lower product quality, competitiveness, and liquidity.The U.S. currently has 174 ETFs related to crypto assets. BlackRock's iShares Bitcoin Trust ETF (IBIT) manages approximately $61 billion in assets, accounting for roughly 38% of the total assets of related ETFs. The SEC will determine whether adjustments will be made to the confidentiality arrangement and review speed of filings. (Bitcoin.com News)
Related news
US SEC Proposes Overhaul of Accredited Investor Rules, 15 Years Later, DCG Founder's Suggestion May Finally Come to Fruition
Odaily reports: Grayscale's parent company DCG posted on X platform that last week the U.S. Securities and Exchange Commission (SEC) proposed reforming the accredited investor system, allowing certain investors to qualify for participation in private markets through examinations and other means. This measure was similar to a suggestion made by DCG founder Barry Silbert as early as 2011.It is reported that around 2011, while founding SecondMarket, Barry Silbert proposed that the SEC's "accredited investor" system mainly relies on income and net worth standards, but wealth level does not necessarily represent investment capability. Some high-net-worth individuals may not possess sufficient financial knowledge, while some ordinary investors should also have the opportunity to qualify for participation in private markets if they pass financial literacy tests set by regulators.
U.S. SEC Plans to Reform the Accredited Investor Framework, 15-Year-Old Proposal from Grayscale Parent DCG Founder Will Finally Be Implemented
DCG, the parent company of Grayscale, posted on the X platform stating that last week the U.S. Securities and Exchange Commission (SEC) proposed reforms to the accredited investor framework, allowing certain investors to qualify for participation in private markets through mechanisms such as taking proficiency exams. This initiative echoes similar recommendations made by DCG founder Barry Silbert more than 15 years ago. According to reports, during the establishment of SecondMarket around 2011, Barry Silbert noted that the SEC's "accredited investor" regime primarily relies on income and net worth thresholds, but wealth does not necessarily equate to investment competency. While some high-net-worth individuals may lack adequate financial expertise, ordinary investors who pass financial literacy examinations administered by regulators should also be granted the opportunity to access private markets.
ETF Store President: SEC Approves First Batch of 3x Leveraged Bitcoin and Ethereum ETFs for Trading
Odaily News: Nate Geraci, President of ETF Store, stated that the U.S. SEC has approved the first batch of 3x leveraged Bitcoin and Ethereum ETFs for listing and trading. Recent SEC filings show that the related products include ETFs seeking to achieve 3x the daily performance of Bitcoin or Ethereum.Geraci noted that less than three years ago, the SEC's lawsuit with Grayscale over a standard spot Bitcoin ETF had not yet concluded, and now the regulatory environment has changed significantly.
Blockchain Association Launches Vaults Workflow, Uniting Dozens of Member Institutions to Drive Policy Formulation
According to a post by the Blockchain Association (@BlockchainAssn), the Blockchain Association has officially launched the Vaults Workstream, bringing together dozens of leading member organizations including a16z Crypto, Aave, Uniswap, Grayscale, dYdX Foundation, Ethena, Morpho, and Multicoin to participate in Washington-based policy discussions on on-chain finance. As an emerging component of on-chain finance infrastructure, Vaults can provide users with diverse asset exposure, support composable and personalized investment strategies, and offer high flexibility in manual control, governance, and risk management. Members of this workstream will engage directly with the SEC to assist legislators in understanding Vault mechanics and the applicability of existing regulatory frameworks, with the goal of aligning regulatory rules with technological development to ensure the United States maintains its leading position in on-chain financial innovation.
Grayscale's Zcash ETF completes "3-for-1" share split, begins trading on post-split basis today
According to a report from GlobeNewsWire, Grayscale's Zcash ETF (ZCSH) has completed its previously announced 3-for-1 share split, which took effect before the U.S. market opened on September 30. Fund shares began trading on a split-adjusted basis starting that day. Grayscale stated that shareholders of record as of the close of trading on September 28 would receive an additional two shares for every one pre-split share of ZCSH held, converting each pre-split share into three post-split shares. This split will not alter the total investment value for shareholders, with the net asset value (NAV) per share correspondingly adjusted to approximately one-third of its pre-split level. Following the split, ZCSH will continue to trade on NYSE Arca, with its ticker symbol and CUSIP number remaining unchanged.
Bitcoin spot ETF net inflows reached $66.19 million yesterday.
According to data from Trader T, Bitcoin spot ETFs recorded an overall net inflow of $66.19 million on September 29. BlackRock IBIT saw a net inflow of $51.09 million, ARK Invest ARKB registered a net inflow of $33.24 million, Bitwise BITB experienced a net outflow of $18.14 million, while other ETFs such as Fidelity FBTC and Grayscale GBTC reported zero net inflows and outflows for the day. On the same day, the 30-year U.S. Treasury yield reached a 24-year high, with Bitcoin's price hovering around $82,600.