Zcash Surges 51%: Grayscale ETF Demand Drives Rally

Zcash has seen an impressive surge in price over the past week, rising by more than 51% to trade near $1,244 on September 10. This significant increase is largely attributed to the demand for Grayscale's Zcash ETF.

The latest data from CoinGecko shows that ZEC has gained 51.3% in the last seven days, with a 60.3% increase in 14 days and an impressive 153% rise over the past month. The price of ZEC climbed rapidly from around $814 on September 3 to above $1,200 within three days, and despite some pullbacks towards $1,100-$1,150, it has managed to hold most of these gains.

The Grayscale's Zcash ETF (ZCSH) has emerged as the primary catalyst behind this week-long rally. The fund, which began trading on NYSE Arca on August 25, had amassed $532.9 million in assets under management by September 8. On the same date, it held 464,514.8551 ZEC.