<?xml version="1.0" encoding="UTF-8"?><edgarSubmission xmlns="http://www.sec.gov/edgar/schedule13g" xmlns:com="http://www.sec.gov/edgar/common">
  <schemaVersion>X0202</schemaVersion>
<headerData>
    <submissionType>SCHEDULE 13G</submissionType>
    <filerInfo>
      <filer>
        <filerCredentials>
          <cik>0002157255</cik>
          <ccc>XXXXXXXX</ccc>
        </filerCredentials>
      </filer>
      <liveTestFlag>LIVE</liveTestFlag>



    </filerInfo>
  </headerData>
  <formData>
    <coverPageHeader>
      <securitiesClassTitle>The Zcash ETF</securitiesClassTitle>
      <eventDateRequiresFilingThisStatement>09/17/2026</eventDateRequiresFilingThisStatement>
      <issuerInfo>
        <issuerCik>0001720265</issuerCik>
        <issuerName>Zcash ETF</issuerName>
        <issuerCusips>
          <issuerCusipNumber>38964G108</issuerCusipNumber>
        </issuerCusips>
        <issuerPrincipalExecutiveOfficeAddress>
          <com:street1>290 HARBOR DRIVE</com:street1>
          <com:street2>4TH FLOOR</com:street2>
          <com:city>STAMFORD</com:city>
          <com:stateOrCountry>CT</com:stateOrCountry>
          <com:zipCode>06902</com:zipCode>
        </issuerPrincipalExecutiveOfficeAddress>
      </issuerInfo>
      <designateRulesPursuantThisScheduleFiled>
        <designateRulePursuantThisScheduleFiled>Rule 13d-1(c)</designateRulePursuantThisScheduleFiled>
      </designateRulesPursuantThisScheduleFiled>
    </coverPageHeader>
    <coverPageHeaderReportingPersonDetails>

      <reportingPersonName>Karminski Michal Adam</reportingPersonName>
      <citizenshipOrOrganization>R9</citizenshipOrOrganization>
      <reportingPersonBeneficiallyOwnedNumberOfShares>
        <soleVotingPower>680019.00</soleVotingPower>
        <sharedVotingPower>0.00</sharedVotingPower>
        <soleDispositivePower>680019.00</soleDispositivePower>
        <sharedDispositivePower>0.00</sharedDispositivePower>
      </reportingPersonBeneficiallyOwnedNumberOfShares>
      <reportingPersonBeneficiallyOwnedAggregateNumberOfShares>680019.00</reportingPersonBeneficiallyOwnedAggregateNumberOfShares>
      <classPercent>100.0</classPercent>
      <typeOfReportingPerson>IN</typeOfReportingPerson>
    </coverPageHeaderReportingPersonDetails>
    <items>
      <item1>
        <issuerName>Zcash ETF</issuerName>
        <issuerPrincipalExecutiveOfficeAddress>290 HARBOR DRIVE, 4TH FLOOR, STAMFORD, CONNECTICUT, 06902.</issuerPrincipalExecutiveOfficeAddress>
      </item1>
      <item2>
        <filingPersonName>KARMINSKI MICHAL ADAM</filingPersonName>
        <principalBusinessOfficeOrResidenceAddress>Bd d'Italie 74, Etage 1, 98000, Monaco</principalBusinessOfficeOrResidenceAddress>
        <citizenship>POLISH</citizenship>
      </item2>
      <item3>
        <notApplicableFlag>Y</notApplicableFlag>
      </item3>
      <item4>
        <amountBeneficiallyOwned>680019</amountBeneficiallyOwned>
        <classPercent>8.44%</classPercent>
        <numberOfSharesPersonHas>
          <solePowerOrDirectToVote>680019</solePowerOrDirectToVote>
          <sharedPowerOrDirectToVote>0</sharedPowerOrDirectToVote>
          <solePowerOrDirectToDispose>680019</solePowerOrDirectToDispose>
          <sharedPowerOrDirectToDispose>0</sharedPowerOrDirectToDispose>
        </numberOfSharesPersonHas>
      </item4>
      <item5>
        <notApplicableFlag>Y</notApplicableFlag>
        <classOwnership5PercentOrLess>N</classOwnership5PercentOrLess>
      </item5>
      <item6>
        <notApplicableFlag>Y</notApplicableFlag>
      </item6>
      <item7>
        <notApplicableFlag>Y</notApplicableFlag>
      </item7>
      <item8>
        <notApplicableFlag>Y</notApplicableFlag>
      </item8>
      <item9>
        <notApplicableFlag>Y</notApplicableFlag>
      </item9>
      <item10>
        <notApplicableFlag>N</notApplicableFlag>
        <certifications>By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under &amp;#167; 240.14a-11.

</certifications>
      </item10>
    </items>
    <signatureInformation>
      <reportingPersonName>Karminski Michal Adam</reportingPersonName>
      <signatureDetails>
        <signature>KARMINSKI MICHAL ADAM</signature>
        <title>INDIVIDUAL</title>
        <date>09/25/2026</date>
      </signatureDetails>
    </signatureInformation>
  </formData>
</edgarSubmission>
