Grayscale submits privacy ETF application to SEC! Anonymous coins XMR, ZEC, DASH, MASK, etc. all rose

Nate Geraci, president of the consulting firm ETF Store, posted on social media earlier on the 22nd that Grayscale had submitted a filing to the U.S. Securities and Exchange Commission (SEC). ETF application documents based on the concept of "privacy". This ETF will track companies related to data security, protection, and cybersecurity products and services, including solutions based on blockchain technology. Additionally, the ETF will hold Grayscale’s privacy coin fund, Grayscale Zcash Trust.

Nate Geraci commented: In my opinion, Grayscale expanding its product lineup is a smart move.

Privacy coin projects (XMR, ZEC, DASH...) all rose

Perhaps due to the attention of the asset management giant Grayscale, all major privacy coins in the past 24 hours The increase was impressive. According to data from CoinGecko, the current price performance of the top five privacy coins by market capitalization is as follows:

• Monero: $122.84, up 3% in the past 24 hours

• MASK: $4.34, up 6.8% in the past 24 hours

• ZEC: $27.13, up 12.6% in the past 24 hours

• DASH: $30.12, up 4.2% in the past 24 hours

• DCR: $17.88, up 3.4% in the past 24 hours

SEC will approve Grayscale Privacy ETF?

Privacy coins are cryptocurrencies created with privacy front and center and are characterized by providing greater anonymity than other crypto-assets such as Bitcoin by obscuring transaction details, including transaction parties and amounts. sex.

However, this feature of privacy coins also makes them subject to abuse by criminals, such as money laundering, dark web transactions, etc. This also makes privacy coins come under pressure from regulatory agencies in various countries. The European Union has previously issued regulations on encrypted assets. The Market Regulation (MiCA) stipulates: The operating rules of crypto-asset trading platforms should prohibit the trading of crypto-assets with built-in anonymity functions, unless the crypto-asset service provider operating the crypto-asset trading platform can identify the holders of these assets and their transactions history.

Therefore, it is not yet certain whether the SEC, which has a suppressive attitude towards cryptocurrency, can pass the relevant ETF submitted by Grayscale this time. We need to continue to pay attention to the subsequent development.

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