Grayscale's Zcash Trust Modification Drives Price Surge

The Zcash price surged to a new high of around $860 after Grayscale submitted its fifth SEC modification for the Zcash Trust. This move is seen as a fundamental step towards becoming a tradable security, similar to ETFs.

Grayscale's submission includes details on the name change to The Zcash ETF, with an NYSE Arca ticker of ZCH and a 2.5% management fee.

The native token of Zcash, ZEC, has seen significant price increases due to these developments, rising by as much as 62% in just one week.