Grayscale ETF Filing and Cypherpunk Mining Operation Drive 9% Surge in Zcash

Grayscale's progress toward a spot Zcash ETF has sparked significant price movement in the asset, driving its value up by over 9%.

The ETF filing has directly boosted ZEC, which is now trading around $510 with a gain of more than 2% over 24 hours. Technical breakout behavior and broader altcoin strength have also contributed to the surge.

Cypherpunk Technologies' launch of the world's largest Zcash mining fleet has reinforced institutional supply-tightening themes, further driving up the price of ZEC.