Zcash Surges Over 42% After Grayscale Files for ZEC ETF

Zcash has seen an impressive surge in value, increasing by over 42% to surpass $800. This price rise comes as Grayscale filed for a ZEC ETF with the SEC on August 21, 2026. The move is not random, as it coincides with growing interest in privacy-oriented assets.

Grayscale's filing marks the next step in making its existing Zcash Trust exchange-tradable. This trust allows institutional investors to gain exposure to ZEC without directly holding the asset. In the past, Grayscale has followed this same playbook for Bitcoin and Ethereum, which saw massive capital inflows after spot ETF approvals.

Another catalyst driving the price increase is Multicoin Capital's significant ZEC position disclosed in May 2026. Their thesis suggests that privacy is an underpriced feature in digital assets, with Zcash being the most mature implementation of it. On the network itself, a substantial share of transactions use shielded addresses, which hide sender, receiver, and amount from public view.

Zcash's 2025 run saw a remarkable recovery, with the asset gaining over 1,400% through a multi-month surge that peaked near $750 in November 2025. After this peak, ZEC cooled down before Thursday's move broke its range decisively to the upside. This means that ZEC has now set a fresh multi-year price record.