Altcoins Rally as ZEC Surges 47% Amid Grayscale ETF Push

Zcash has been on a tear in recent days, and it's not alone. Multiple altcoins have rallied over the past 24 hours, with Zcash (ZEC) leading the pack at an impressive 47.1% gain to $836 before retreating slightly to around $810.

The surge is part of a broader rally that saw Bitcoin Cash (BCH) climb 31.4% to $299.49 and Cardano (ADA) advance 19.0% to $0.2563.

But what's behind the sudden interest in these altcoins? Grayscale's push to convert its Zcash Trust into a spot exchange-traded fund (ETF) has been a recurring catalyst, driving a 13% climb on August 21 alone and pushing the token toward a market capitalization of $10.8 billion.

The rally is not confined to these tokens, with other altcoins like Dogecoin (DOGE), Whitebit Token (WBT), Stellar (XLM), Chainlink (LINK), and Hyperliquid (HYPE) also posting gains.