As early as the 27th of October, Medium reported that the paperwork for Zcash Investment Trust had been filed with the SEC. The final decision the institution came through on the 9th of November, thereby creating the Trust. About $11,613,807 was used to purchase Zcash coins at the Bitfinex Exchange, which was trading at $230.44 at the time. One the Trust was approved by the SEC, it can be listed at an exchange, allowing investors to make deposits.
The aim of the Zcash Investment Trust is to reflect the value of the amount of Zcash. For example, at the currency market price for Zcash of $558, the Trust has already experienced more than a 140% gain in about two weeks. Through the trust, investors can make deposits as if buying shares, with each share representing 0.1 Zcash coin. Then, every day at 4PM (Eastern Time), the value of investment is calculated based on the TradeBlock ZEC Composite Reference rate to determine the value of each Zcash coin.