Grayscale Zcash ETF Sees $463M in Assets as ZEC Surges Past $1,185

Zcash (ZEC) has seen a significant surge in price over the past 24 hours, reaching $1,185. This marks an 11% increase for the token.

The Grayscale Zcash ETF (ZCSH), which tracks the performance of ZEC, has also seen impressive growth. As of September 4th, it held a net asset value of $463.2 million. The fund's shares closed at $83.77 on that day, up 7.62% from the previous day.

Grayscale converted its Zcash Trust into the ZCSH ETF on August 25th. This move marked an important milestone for the company, as it became the first US-listed spot ETF for a privacy-focused token like ZEC.

The rise of Zcash has been attributed in part to growing demand for financial privacy in light of increasing AI surveillance. According to Grayscale's head of index, Steve Vanourny, this trend will only continue to grow as people seek genuine financial anonymity.