Zcash Smashes $800 Ceiling Amid Grayscale's ETF Push

Zcash has broken through its $800 ceiling for the first time in nearly eight years after experiencing a 38% price surge to over $814.

This significant milestone comes as Grayscale submitted its fourth amended registration statement to transform its Zcash Trust into a spot exchange-traded fund listed on NYSE Arca with the ticker symbol ZCSH.

DCG International Investments has initiated preliminary discussions to contribute approximately 200,000 ZEC tokens to the trust in exchange for corresponding shares. This potential contribution represents a significant increase in the trust's holdings.

Zcash's market capitalization has climbed to $13.87 billion, making it the 12th largest cryptocurrency by market value and surpassing all competing privacy-focused cryptocurrencies.