Grayscale filed with the SEC on Sept. 25 to propose the ZCSH High Income ETF, an actively managed fund designed to generate income from options tied to Zcash exchange-traded products. The fund would seek distributions every two weeks while maintaining indirect exposure to ZEC, but it would not hold ZEC directly, operate a crypto wallet or control private keys. The strategy resembles a covered-call product: it would collect option premiums to support distributions, although selling calls can limit gains if Zcash rises above the options' strike prices. The proposal comes as Grayscale's existing ZCSH fund approaches $1 billion in assets, reaching roughly $996 million by Sept. 25 after crossing $500 million just weeks after launch. That growth reflects ZEC previously held by Grayscale's former trust and the increase in Zcash's price, rather than nearly $1 billion of new investor cash. Zcash's rally above $1,200 and a separate European Zcash ETP have also expanded attention and access to the privacy coin.