Grayscale is directing 100% of the sponsor fees collected by its Zcash ETF, ZCSH, toward Zcash development, marketing, community building and education during the fund’s first 12 months. The ETF launched on Aug. 25, 2026, on NYSE Arca as the first U.S. exchange-traded product to hold ZEC directly, and charges a fixed annual sponsor fee of 2.5%. The voluntary pledge can be modified or revoked by Grayscale at any time. The firm also launched Zcash Invest on Nov. 10 and committed $1 million to nonprofits and projects supporting Zcash, with $400,000 distributed in four $100,000 grants to the Zcash Foundation, Pretty Good Policy for Zcash, Shielded Labs and Project Tachyon. ZCSH converted from the Grayscale Zcash Trust, originally formed in 2017, and held approximately $676 million in assets as of Nov. 9, 2026. Grayscale is also promoting the ecosystem through the nationwide campaign titled "Zcash: The Next Era of Encryption," including a Nov. 10 full-page Wall Street Journal advertisement. The first-year fee commitment is scheduled to end in late August 2027, leaving the continuation of the program and future grant allocations as key issues for investors and Zcash participants.