Zcash Smashes 8-Year High Above $800 Amid Grayscale ETF Push

Zcash (ZEC) has broken through its eight-year high of $800, reaching an all-time high of over $814 after a nearly 38% surge. The price rally came on the back of Grayscale's fourth amended registration statement to convert its Zcash Trust into a spot ETF on NYSE Arca under the ticker ZCSH.

The filing proposes moving the trust from the OTCQX market to NYSE Arca, allowing continuous share issuance and introducing a redemption program. This move has been seen as a significant step towards institutional investment in Zcash.

DCG International Investments is in non-binding talks to acquire around 200,000 ZEC, worth approximately $163 million. However, the discussions remain non-binding, and DCG could contribute more or fewer tokens at its discretion.