ZEC Hits an Eight-Year High at $876. TAO Could Be Next

$ZEC just hit $876, its highest price in eight years, as Grayscale moved closer to converting its Zcash Trust into a U.S. spot ETF.

The latest filing, submitted Friday, sets the proposed fund to trade on NYSE Arca under ZCSH, subject to regulatory approval.

But there is an interesting parallel for Bittensor.

Grayscale has already filed for a spot $TAO ETF.

On December 30, 2025, Grayscale filed an S-1 with the SEC seeking to convert its Grayscale Bittensor Trust into an ETF.

The proposed product would be renamed the Grayscale Bittensor Trust ETF and trade on NYSE Arca under the ticker GTAO.

And this isn’t an untouched filing sitting in the background.

On April 2, 2026, Grayscale filed an amended S-1, providing updated details on the proposed structure.

The filing confirms that the trust would hold TAO directly and that its shares are designed to provide investors with convenient exposure to the token.

The important caveat: GTAO isn’t an approved NYSE Arca ETF yet. The SEC still needs to declare the registration effective, and the exchange must approve the listing. Grayscale itself notes that there is no guarantee either will happen.

But the recent ZEC run shows why this matters.

An ETF doesn’t change Bittensor’s fundamentals overnight. What it can change is access.

A spot ETF would give traditional investors a regulated vehicle for gaining exposure to TAO without directly buying, storing or managing the token.

So while ZEC is enjoying its ETF moment today, TAO already has its own application in the pipeline.

It just isn’t here yet, but GTAO is coming.