Zcash Hits 8-Year High Ahead of ETF Listing

Zcash has reached an 8-year high of $814 after Grayscale submitted final documents to the SEC for its first spot ETF, which is set to list on NYSE Arca on August 25 under the ticker 'ZCSH'.

The fund will hold up to 393,000 ZEC, valued at more than $260 million, and Coinbase will serve as custodian.

This surge has sparked attention on whether Zcash can catch up with XRP's market capitalisation, currently at $93.45 billion.

Mert Mumtaz, CEO of Helius, thinks the move is a return of the privacy narrative and believes in lobbying for privacy coins until Zcash regains a top-3 market-cap position.