Zcash Surges Past $800 as Grayscale Nears Spot ETF Approval

Zcash (ZEC) has surged past $800 for the first time since 2018, reaching over $855 on August 23. This milestone comes as Grayscale filed its fifth amended registration statement to convert its Zcash Trust into a spot exchange-traded fund (ETF).

The ETF application seeks to create the first US product directly tracking ZEC's price, and if approved, it would join other existing altcoin ETFs for Solana (SOL), XRP, Litecoin (LTC), Dogecoin (DOGE), BNB, and Hyperliquid (HYPE).

The Grayscale filing also disclosed non-binding discussions with Digital Currency Group (DCG) subsidiary DCG International Investments to acquire approximately 200,000 ZEC through the trust, which would be worth around $163 million to $164 million at current prices.