Zcash Soars Above $1,600 Following European ETP Launch

Zcash (ZEC) has maintained momentum above $1,600 following the launch of the 21Shares European ETP. This physically backed exchange-traded product allows traditional brokerage investors to gain Zcash exposure without directly holding the digital asset.

The privacy-focused cryptocurrency has surged over 70% in the past 30 days, with its price climbing through several key thresholds, including $1,000 and $1,500. Analyst RookieXBT notes that ZEC appears primed for movement toward the $1,800 level, citing a technical interpretation.

The recent uptrend is also attributed to bullish momentum across multiple technical indicators, including Relative Strength Index measurements hovering around 67-70 and heightened readings from Stochastic and CCI metrics. The ETP's introduction in Europe follows Grayscale's launch of a Zcash ETF on NYSE Arca earlier this month.