Zcash Surges Past $1,000, Propels ETF to Over $400 Million

Zcash has broken through the $1,000 barrier for the first time in years, propelling its ETF to over $400 million in assets just two weeks after its debut. The token's price surged by nearly 100% over the past month, reaching an intraday high of $1,050.70 on September 4.

The rapid appreciation has lifted Grayscale's ZCSH ETF to $414.7 million in assets, with shares outstanding increasing to 5.35 million. The fund inherited assets from the Grayscale Zcash Trust and now holds 428,613 units of ZEC, which accounts for much of the increase.

The price move has also led to a significant expansion in leverage, with CoinGlass data showing that Zcash futures open interest crossed $2 billion for the first time. This suggests traders are committing substantially more capital to ZEC derivatives as the token tests levels it has not sustained in years.