Grayscale Zcash ETF Launches as ZEC Surges Ahead of Privacy Rally
Zcash (ZEC)
Editor:
Eugene Serbin
CoinGape reported that Grayscale Research predicts Zcash (ZEC) could rally to $8,100 by 2030 as financial privacy demand grows amid AI surveillance. Grayscale Head of Research Zach Pandl argued ZEC can challenge Bitcoin’s network effects due to its privacy features and cross-chain connectivity. He noted Zcash uses “intents” technology, allowing it to serve as a private asset hub without needing widespread merchant adoption.
The asset has risen nearly 70% and 350% year-to-date, yet remains valued at less than 1% of Bitcoin’s market cap. Pandl stated that a 10% share of Bitcoin’s market cap could trigger a price rally to $8,100. Grayscale’s Zcash ETF began trading on NYSE Arca under the ticker ZCSH, marking the first U.S. spot exposure to ZEC.
The fund converted from the Grayscale Zcash Trust, adding institutional access to the privacy coin. While noting higher risks, the research suggests ZEC may extend gains during the broader crypto market recovery. ZEC was trading around $790, pulling back 7% after a strong weekly rally. Trading volume dropped as investors awaited cues from PCE inflation data and crypto options expiry.
How the market reacted
Whalio's own Binance spot order flow for ZEC, measured when this story was written up on 26 August 2026. Not the outlet's figures.
Zcash is currently trading at $816.10, with a 1-hour buy ratio of 64.3% and a 4-hour buy ratio of 60.0%, indicating strong short-term buying pressure. This contrasts with the 24-hour buy ratio of 48.3%, suggesting that recent buying activity is accelerating compared to the daily average. The 1-hour volume delta is positive at $2,436,357, while the 4-hour delta is $2,733,022, showing net inflows in the immediate term. However, the 24-hour volume delta is -$5,336,083, indicating that over the full day, sellers have outweighed buyers. The cumulative volume delta (CVD) for the 24-hour close is -$5,565,178, confirming that the day ended with net selling pressure despite the recent surge. Spot volume for the 24-hour period stands at $155,623,768 across 493,456 trades.
The latest daily buy ratio of 52.9% sits at the 82nd percentile of the last 322 days, against a median of 50.2% - stronger buying than most days.
Twenty-four hours later
What ZEC did over the 24 hours after the story broke. The market moves for its own reasons; this is what happened, not what the story caused.
Was that an ordinary day?
The same Binance spot measurements for ZEC, averaged over the days leading up to the story.
Over the preceding week, the average buy ratio was 52.0%, making today’s 1-hour ratio of 64.3% notably higher than the weekly norm. Volume relative to the weekly average is 0.60x, meaning trading activity is currently half of what it was during the previous seven days. The coin has risen 44.4% over the last eight days, with a total volume delta of +$58,970,484 recorded in that period. Today’s 24-hour volume delta of -$5,336,083 shows a reversal from the weekly trend of net buying. While the weekly trend was heavily bullish, today’s session has seen a shift toward net selling, with only 11 of the last 24 hours showing net buying.