Grayscale Boosts Zcash Price with NYSE Arca Listing Plans

Zcash [ZEC] surged 17.49% to $668.60 on Friday, becoming one of the top gainers of the day amidst a wider crypto rally.

The price increase comes days after Grayscale advanced its plans to list its Zcash Trust on NYSE Arca under the existing ZCSH ticker, with a proposed structure that would allow continuous share issuance and introduce a redemption program to keep shares closely aligned with their underlying value.

Grayscale's filing also revealed discussions with Digital Currency Group (DCG) regarding the contribution of approximately 200,000 ZEC tokens through an authorized participant in exchange for trust shares. This arrangement is non-binding, but if executed, would significantly boost the trust's holdings.

The Ironwood upgrade on Zcash has also improved wallet performance by over 15 times compared to its initial implementation, with users now benefiting from faster synchronization and better private transaction processing.