Grayscale launches a Wall Street Journal ad blitz and a $1 million grant plan for Zcash on a day the token falls more than 11%

Grayscale launched a national campaign for its Zcash fund on Tuesday, called "Zcash: The Next Era of Crypto," with a Wall Street Journal wrap and a new site, ZcashInvest.com. The company said it plans to direct $1 million to nonprofits and initiatives that advance the Zcash ecosystem and has awarded the first $400,000 as four equal grants of $100,000 each to the Zcash Foundation, Pretty Good Policy for Zcash, Shielded Labs and Project Tachyon.

Grayscale also said it intends to invest 100% of the sponsor fee it collects from The Zcash ETF, for up to the first year as an exchange-traded product, in the network's development, marketing and education. The release describes that as a voluntary commitment paid from Grayscale's own funds that it may change or discontinue at any time. Steve Vanourny, Grayscale's head of index, said "Financial privacy is becoming essential" as more activity moves onchain.

The timing coincided with a sharp fall. Decrypt reported that ZEC dropped 11.3% over 24 hours to about $1,043, after briefly dipping below $1,000, and was down roughly 19% over 30 days. The Block reported ZCSH down about 12% and said the fund had more than $15 million in net outflows in November so far, after $46.25 million in October, citing SoSoValue. The fund listed on NYSE Arca on August 25, 2026.