Zcash Rises to Eight-Year High on Proposed ETF Conversion

Zcash has become one of the standout performers in the recent crypto rally, surging to an eight-year high of $841 on Monday after gaining 66% over the past week.

The price increase was fueled by investment manager Grayscale's proposed conversion of its Zcash Trust into an exchange-traded fund (ETF), which would be listed on the New York Stock Exchange under the ticker ZCSH if approved.

This move would provide investors with a regulated way to gain exposure to ZEC, Zcash's native token, without having to directly buy or hold it.