Is the spring of privacy coins back again? Zcash's surge is indeed impressive, but the regulatory minefield around address shielding is risky to navigate. Let's wait and see if Grayscale's ETF gets approved.

Some early Bitcoin supporters and crypto investors are refocusing on privacy coin Zcash, as its privacy features align more closely with the original principles. It has risen about 50% in the past month, with a 1,140% increase last year, and a market cap of approximately $8.9 billion. DCG has listed it as one of its largest holdings, and Grayscale has applied to convert its trust into an ETF. However, its shielded addresses can hide transaction parties and amounts, which may lead to misuse and regulatory controversy.