Grayscale said it plans to direct $1 million to groups supporting Zcash and has already awarded $100,000 each to four groups, including the Zcash Foundation. It intends to reinvest all sponsor fees from its Zcash ETF for up to the fund’s first year as an exchange-traded product in network development, marketing and education. The commitment is voluntary, and Grayscale can change or end it at any time.
Grayscale also launched an educational website and a national ad campaign. ZEC fell 11.3% over 24 hours to about $1,043, according to CoinGecko.
