Zcash Soars to New Heights as ETF Hits $500 Million

Zcash's price has skyrocketed over 50% in one week, from around $814 to above $1,280 on September 9. The surge coincides with the launch of Grayscale's Zcash ETF, which crossed $500 million in assets within two weeks.

The ETF's rapid growth and high trading volume have raised questions about whether Zcash is undervalued. With a market value above $20.8 billion, ZEC now ranks around 10th by market capitalization.

Grayscale's disclosed holdings equal roughly 2.8% of circulating supply, which could support the price if demand continues. However, a slowdown in ETF accumulation would leave a larger valuation to defend.