Bitcoin

Ethereum

Zcash

<h2 id="header-0">Key Facts</h2>
<ul>
 <li>Grayscale’s Zcash spot ETF gathered more than $1 billion in its first 30 trading days, which Grayscale says ranks in the top 1% of ETFs launched over the past decade.</li>
 <li>Grayscale filed last week to tokenize two of its 1940 Act products, a Bitcoin covered-call fund and an Ethereum covered-call fund, under the SEC’s new innovation exemption.</li>
 <li>Grayscale said it is disappointed the CLARITY Act failed to pass in the Senate, calling the innovation exemption a consolation prize.</li>
</ul>
Grayscale’s Zcash (<a target="_blank" rel="noopener noreferrer nofollow" href="https://coinmarketcap.com/currencies/zcash/">ZEC</a>) spot ETF gathered more than $1 billion in assets in its first 30 trading days, a pace the firm says puts it in the top 1% of ETFs launched over the past decade by first-month inflows. Krista Lynch, Grayscale’s managing director and head of trading and capital markets, said the result signals crypto ETFs are moving beyond Bitcoin (<a target="_blank" rel="noopener noreferrer nofollow" href="https://coinmarketcap.com/currencies/bitcoin/">BTC</a>) and Ethereum (<a target="_blank" rel="noopener noreferrer nofollow" href="https://coinmarketcap.com/currencies/ethereum/">ETH</a>).
<img src="https://academy-public.coinmarketcap.com/optimized-uploads/ba374e8c07fe4c30a94ddfe98cf6d0ad.png">
Lynch made the comments in an interview with The Block’s Starting Block at the Token2049 conference in Singapore. She said investor interest in the asset class remains high, but cautioned that newer entrants need simple, basic education rather than deep technical detail, since “everyone is very in the crypto bubble.”
<h2 id="header-1">Grayscale Files to Tokenize Covered-Call Funds</h2>
Grayscale filed last week to tokenize two of its registered fund products, a Bitcoin covered-call fund and an Ethereum covered-call fund, under the Securities and Exchange Commission’s innovation exemption. The SEC introduced that exemption on Sept. 17 after the Senate failed to advance the CLARITY Act, the crypto market structure bill that had been expected to set clearer rules for digital asset trading.
Lynch said the exemption gives the industry a path to make progress on tokenization even without the broader legislation. She described it as a consolation prize after the CLARITY Act’s failure, and said the outcome has at least removed uncertainty: “it’s not a question mark” anymore.
<h2 id="header-2">SEC Listing Rules Open Door to More Altcoin ETFs</h2>
Separately, the SEC’s generic listing standards now cover roughly 15 tokens, giving issuers room to bring new<a target="_blank" rel="noopener noreferrer nofollow" href="https://coinmarketcap.com/academy/glossary/exchange-traded-fund-etf"> exchange-traded fund</a> products to market based on investor demand. Grayscale said in January it was considering 27 assets across AI, DeFi, consumer, and infrastructure categories for potential listings.
Grayscale and other firms also pressed the SEC in September to speed up ETF reviews and to allow confidential draft filings ahead of public submission.
Read More: <a target="_blank" rel="noopener noreferrer nofollow" href="https://coinmarketcap.com/academy/article/bitcoin-etf-inflows-turn-positive-2026">Bitcoin ETF Inflows Turn Positive for 2026, Erasing $5.7B Hole</a>

Grayscale Says Crypto ETFs Moving Past Bitcoin, Ethereum

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