Grayscale filed an application on May 8 for a spot Zcash ETF, according to FinanceFeeds, in what the report describes as the first privacy-coin ETF seeking a U.S. listing. The proposed fund would track Zcash, a cryptocurrency known for privacy features that can shield wallet and transaction information on-chain. The filing comes after a Multicoin Capital co-founder previously said the investment firm had built a large ZEC position since February, indicating growing institutional interest in the asset.