Zcash ETF Launch Drives ZEC to $867 Amid ETF Conversion
finance.yahoo.com reports that Grayscale's Zcash ETF (ZCSH) began trading on NYSE Arca on Aug. 25 as the first US-listed product dedicated solely to ZEC. The launch triggered a price surge to $867, an eight-year high, before traders took profits and pulled the price back. ZCSH holds 387,849 ZEC worth approximately $304.6 million, representing a conversion of the existing Grayscale Zcash Trust rather than new capital. The fund charges a 2.5% annual fee and is custodied by Coinbase. Arthur Hayes' $1,000 price target has returned to focus, though he recently sold his position citing privacy infrastructure concerns. Futures volume reached $9.54 billion in 24 hours, indicating significant leveraged speculation drove the recent rally. Grayscale scenarios suggest ZEC could reach $1,622 if it captures 2% of Bitcoin's market cap.