• Grayscale launched Zcash Invest, a national ad campaign fronted by a Wall Street Journal print wrap. 
  • The firm committed $1 million to Zcash non-profits while pledging a year of ZCSH fees to the network. 
  • ZCSH has been losing money, with a $10.99 million outflow recorded on November 5.

 

Grayscale launched a national ad campaign for its Zcash ETF even as investors pull money out. A rival fund that intends to charge one-tenth of its 2.5% fee is also currently awaiting approval.

Grayscale bought a Wall Street Journal print wrap and pledged $1 million to the Zcash ecosystem through its new “Zcash Invest” education platform. 

Why is Grayscale spending money on ads while its Zcash ETF is losing assets?

Grayscale announced a national ad campaign for its Zcash ETF on Tuesday. Grayscale calls the new campaign “Zcash Invest,” an education hub with a website, a social media account at @ZcashInvest, and a campaign titled “Zcash: The Next Era of Crypto.” 

The company said the rollout starts with a Wall Street Journal wrap and a new national ad, then spreads to print, outdoor ads, streaming, digital, and social media. The ads feature a zebra, a nod to the Zcash community’s mascot.

Grayscale said it will put all the sponsor fees it collects from ZCSH in its first year as an ETF toward Zcash network development, marketing, and education. 

The company also promised $1 million to nonprofits. So far, $400,000 has gone out as four $100,000 grants to the Zcash Foundation, Pretty Good Policy for Zcash, Shielded Labs, and Project Tachyon.

Notably, ZCSH, which converted from a trust and began trading on NYSE Arca on August 25, 2026, has been losing money. The fund lost roughly $10.99 million on November 5, which is regarded as the largest single-day withdrawal among U.S. altcoin ETFs that session, leaving it near $724.2 million in net assets. 

Grayscale’s own fund page says that the fund has about $675.7 million under management as of November.

What fund intends to compete with the Zcash ETF?

Early in October, Winklevoss Asset Services filed a preliminary S-1 with the SEC requesting approval to start a spot Zcash ETF that would trade under the ticker “WINK.”

The company is proposing a 0.25% annual sponsor fee, which is just one-tenth of Grayscale’s 2.5% charge. The fund would hold ZEC directly with Gemini Trust Company as custodian and plans to list on Nasdaq. 

Winklevoss Capital Fund has shown interest in buying up to $100 million of shares; however, it has not committed to anything.

Grayscale used the same pattern as the Zcash invest campaign back in 2019 when it bankrolled “Drop Gold,” a multi-million-dollar campaign making the case for Bitcoin over gold. That campaign was designed to steer money toward its Bitcoin trust.

If you're reading this, you’re already ahead. Stay there with our newsletter.

FAQs

What is Zcash Invest?

It is a Grayscale platform and national advertising campaign, launched November 10, 2026, to promote The Zcash ETF (ZCSH) and educate investors about Zcash, opening with a Wall Street Journal print wrap and a new national ad.

How much is Grayscale spending on the Zcash ecosystem?

Grayscale pledged $1 million to Zcash non-profits and has already paid $400,000 in four equal $100,000 grants to the Zcash Foundation, Pretty Good Policy for Zcash, Shielded Labs and Project Tachyon, plus a commitment to direct ZCSH's sponsor fee into the network for up to its first year.

How does Grayscale's fee compare to the proposed Winklevoss Zcash ETF?

Grayscale's ZCSH charges a 2.5% management fee, while the Winklevoss S-1 filed on October 6 proposes a 0.25% fee for its WINK fund, one-tenth of Grayscale's charge, pending SEC approval.

Disclaimer. The information provided is not trading advice. Cryptopolitan.com holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decisions.

Hannah Collymore

Hannah is a writer and editor with nearly a decade of blog writing and event reporting experience in the crypto space. At Cryptopolitan, Hannah contributes to the news page, reporting and analyzing the latest developments in DeFi, RWA, crypto regulation, AI and frontier tech industries. She graduated from Arcadia university with a degree in Business Administration.

5 Ingenious Applications of ChatGPT And What You Should Do About Them

93% Business Leaders Favor AI-Powered Solutions for Brand Sustainability Management, Reuters

Here’s How Macron Supports France’s Vibrant and Productive AI Ecosystem

Bloomberg Estimates the Generative AI Market to Reach $1.3 Trillion by 2032