According to FinanceFeeds, Grayscale has submitted an application to convert its Zcash Trust into a spot ETF. If approved, it will become the world's first privacy coin spot ETF. At the same time, the U.S. SEC has previously ended its long-term review of privacy coins and has not taken enforcement action, clearing a key regulatory hurdle. Additionally, Tushar Jain, co-founder of crypto hedge fund Multicoin Capital, revealed that the fund has been building a large position in ZEC as a macro hedge asset since February of this year.