Zcash falls below $1,000 as Grayscale fund sees $15 million in November outflows

Grayscale, a digital asset management firm specializing in cryptocurrency investment products, has reinforced its support for the Zcash ecosystem with a $1 million commitment to nonprofit groups and projects promoting the privacy-focused digital currency. The initiative, announced on November 10, coincided with the launch of Zcash Invest, Grayscale’s new platform aiming to educate investors about Zcash and its exchange-traded fund (ETF), ZCSH. Out of the pledged $1 million, Grayscale reported that $400,000 has already been distributed. Four beneficiaries, including the Zcash Foundation, Pretty Good Policy for Zcash, Shielded Labs, and Project Tachyon, each received $100,000 to further initiatives focused on user privacy, network security, and governance. Despite the funding announcement, Grayscale clarified that this commitment does not involve a $1 million direct purchase of Zcash (ZEC) tokens.

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