$1.6 Billion Grayscale Fund and ETP Launch Fail to Halt ZEC Price Dip

DeFi Technologies Inc., a publicly traded financial technology company, has launched a ZCash (ZEC) exchange-traded product through its investment product arm, Valour. The new ETP began trading on Sweden's Spotlight Stock Market on Tuesday with a 1.9% management fee.

This move aligns with DeFi Technologies' expansion of its Valour ETPs in Europe. On September 24th, it was reported that the Grayscale ZCash ETF (ZCSH) reached $1 billion in assets under management.

The recent price action for ZEC has been quite bullish, with a weekly chart showing a firmly bullish bias. However, the momentum has cooled around the $1,600 mark, and a drop below $1,427 could suggest a deeper retracement is possible.