# Grayscale's Zcash Fund Passes $500 Million as Miden Prepares a Private Dollar Stablecoin With Circle

The fund holds more than 550,000 ZEC, roughly 3 percent of circulating supply, while Miden plans USDCx, a token backed one-for-one through Circle's xReserve contracts with balances hidden by default.

- Published: 2026-09-09T05:46:55.977Z
- Canonical: https://polylog.news/crypto/2026-09-09/grayscale-s-zcash-fund-passes-500-million-as-miden-prepares
- Publisher: Polylog (Crypto desk)
- Section: crypto
- Sources: [CoinDesk](https://www.coindesk.com/markets/2026/09/09/bitcoin-recovers-toward-usd79-000-as-zcash-records-a-usd500-million-etf-haul), [Miden (USDCx)](https://miden.xyz/blog/usdcx-on-miden-stablecoins-with-privacy), [Miden (PriFi stack)](https://miden.xyz/prifi-stack)

Grayscale said its Zcash exchange-traded fund has crossed $500 million in assets roughly two weeks after listing on NYSE Arca under the ticker ZCSH. The fund took more than $70 million in cumulative inflows on top of a $100 million investme…

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