Grayscale pledges $1 million alongside Zcash ad blitz as token and ETF fall 12%

Grayscale has awarded $400,000 to four Zcash initiatives as its ETF records over $15 million in November net outflows.

By Kyle Baird • Edited by Jason Shubnell
Markets•November 10, 2026, 12:52PM EST
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Grayscale pledges $1 million alongside Zcash ad blitz as token and ETF fall 12%

Quick Take

  • ZCSH recorded more than $15 million in net outflows in November, following $46.25 million in October.
  • Grayscale plans to reinvest all ZCSH sponsor fees into network development, marketing, and education for up to a year.

Grayscale kicked off a Zcash advertising campaign on Tuesday with a new website, a front-page Wall Street Journal wrap, and more grants to groups working on the crypto's development.

The WSJ ad includes a zebra-striped wrap and a full-page advertisement inside promoting Grayscale's Zcash ETF Grayscale Zcash Trust ETF (ZCSH). The asset manager also launched ZcashInvest.com as an educational resource on the fund and Zcash's privacy features.

The campaign extends across print, outdoor ads, digital, streaming and social media, Grayscale said in a Tuesday release.

The firm is also expanding grants to nonprofits and initiatives supporting Zcash to $1 million. It has already awarded $400,000 through four equal grants to the Zcash Foundation, policy advocacy group Pretty Good Policy for Zcash, Shielded Labs and Project Tachyon.

Grayscale also said it intends to reinvest "100% of $ZCSH sponsor fees into the Zcash network across development, marketing, community and education" for up to the fund's first year as an ETF.

"Financial privacy is becoming essential as more economic activity moves onchain and AI makes it easier to analyze," Steve Vanourny, Grayscale’s head of index, said in the announcement.

Bad day for ZEC

The campaign comes as Zcash's native ZEC trades down roughly 13% on the day to $1,025, close to a two-month low. ZCSH shares are also down around 12% to $27.25, putting them near their lowest level over the same period.

The fund has seen more than $15 million in net outflows so far in November, excluding Tuesday's figures, following $46.25 million in net outflows during October.

Grayscale ZCSH ETF Weekly Flows. Source: SoSoValue.

The fund began as a private placement in 2017 and listed on NYSE Arca in August.

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