Zcash ETF Surges to One-Third of Crypto Trading Volume

A Zcash ETF that launched in August has already become a significant player in the crypto market.

In just over four weeks, it accounted for approximately one-third of all spot crypto ETF trading volume, with $11.42 billion in turnover.

The majority of this trading volume came from a single session on September 16, when $11 billion traded hands - a staggering figure that is 12 times the fund's total net assets at the time.

This was likely due to market volatility following the Federal Reserve's interest rate hike and the Senate's rejection of the CLARITY Act. Traders may have sought to adjust their crypto positions, using the Zcash ETF as a liquid instrument for this purpose.