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Crypto

Grayscale seeks to convert Zcash Trust into ETF, targets NYSE listing

Grayscale is moving ahead with plans to convert its Grayscale Zcash Trust into a spot exchange-traded fund. It filed a fourth amended S-3 registration statement with the U.S. Securities and Exchange Commission. If approved, the product would trade on NYSE Arca under the ticker ZCSH and be the first U.S. spot ETF tracking a privacy coin. The filing details largely cash-based share creation and redemption, and names Coinbase and BNY Mellon among key service providers.

Crypto

U.S. SEC allows Franklin Templeton fund investment in onchain money market fund

The U.S. Securities and Exchange Commission has indicated it will not take enforcement action over Franklin Templeton’s investment by its fund manager in its own tokenised money market fund. Cointelegraph reported the SEC said Franklin Templeton would not face sanctions if it invests cash in the Franklin OnChain U.S. Government Money Fund under certain conditions. The SEC also recognised the custody structure and set 12 conditions.

Crypto

BlackRock tokenises stakes in European money market funds, enabling 24-hour transfers in pound, euro and dollar

BlackRock will offer tokenised stakes in some European money market funds, issuing units in pounds, euros and U.S. dollars via JPMorgan\'s blockchain platform Kinexys. Each token represents one underlying fund unit and can be transferred 24 hours a day between approved digital wallets. The tokenised assets are part of BlackRock\'s Institutional Cash Series, which has about $311 billion in assets overall. Executives said demand is tied to efficient collateral and corporate payments.