Zcash ETF Surges as ZEC Futures Open Interest Hits Record High

Grayscale's Zcash ETF, trading as ZCSH on NYSE Arca, has accumulated $914.53 million in net assets and $270.95 million in cumulative net inflows since its Wall Street debut on August 25. The fund's rapid expansion has coincided with Zcash's value roughly doubling to around $1,540 per token.

The acceleration leaves the product about $85 million short of the $1 billion threshold as investor demand converges with one of ZEC's strongest rallies in years. CoinGlass data showed ZEC futures open interest climbing to an all-time high of about $3.5 billion this week, while futures trading volume crossed $10 billion for the first time since early June.

The price advance has also coincided with a series of decisions over Zcash's monetary policy and next network upgrade. Holders backed retaining the network's Bitcoin-style halving schedule rather than moving to a smoother issuance system, as well as reducing block times to 25 seconds from 75 seconds under the planned NU7 upgrade.

Grayscale announced a 3-for-1 forward split on September 18 that will triple the number of ZCSH shares outstanding while reducing the net asset value represented by each share to roughly one-third of its pre-split level. The transaction will not change the aggregate value of an investor's position solely because of the split.