Zcash Surges 4.14% Amid New ETP Launch and Strong Institutional Flows
Zcash (ZEC) has seen a significant surge of 4.14% in the last 16 hours, driven by a cluster of catalysts including new regulated investment products and growing institutional flows.
The launch of Europe's first physically backed ZEC ETP on September 23rd has created fresh spot demand and visibility for ZEC, with daily volume up about 61% as news hit. This is in addition to strong US ETF flows, particularly through Grayscale's ZCSH, which has seen some of its largest daily inflows in recent sessions.
The ETP launch coincided with record shielded activity and on-chain usage for Zcash, with weekly shielded transactions hitting the highest levels since 2022. This surge in privacy feature usage bolsters the idea that ZEC is not just a speculative trade, encouraging more long-only demand.
The NU7 network upgrade, targeted for early November, will cut block spacing from 75 seconds to 25 seconds and deprecate the old Sprout shielded pool. Users are being warned that funds left in Sprout will become unspendable once NU7 activates.