Crypto
Grayscale ETF Conversion Sparks Zcash Rally Above $800
Zcash's price has skyrocketed to over $800 after Grayscale's filing for the conversion of its Zcash Trust into a spot ETF. This news has added fuel to the rally in privacy coins, with Zcash leading the charge.
The coin jumped roughly 48% and topped its January 2018 peak, according to market data. Futures volume hit billions of dollars as traders reacted to the potential for increased institutional investment.
The Grayscale conversion is a significant development because it changes how the market can access ZEC. A trust that lacks direct redemption trades differently from an ETF, and this structural signal has shifted expectations around distribution, liquidity, and arbitrage.