started · updated
Zcash surges past $800 amid Grayscale spot ETF push
Zcash (ZEC) has experienced a significant price surge, breaking above $800 and reaching levels not seen since early 2018. This rally is driven by several factors, including the successful deployment of the Ironwood (NU6.3) network upgrade and intense interest in Grayscale’s efforts to convert its Zcash Trust into a spot exchange-traded fund (ETF) on NYSE Arca.
Grayscale has filed multiple amendments with the Securities and Exchange Commission (SEC) to facilitate this transition, proposing the ticker ZCSH (or ZCH in some filings). The proposed ETF would carry an annual sponsor fee of 2.5%. Additionally, filings reveal non-binding discussions with Digital Currency Group (DCG) regarding a potential contribution of approximately 200,000 ZEC to the trust.
Market activity has been characterized by high volatility and a heavy concentration in derivatives, with ZEC futures trading volume significantly outpacing spot trading volume. While the price movement has revitalized comparisons to Bitcoin due to Zcash’s 21 million supply cap, the high level of leverage in the market remains a point of caution for investors.
Entities
Digital Currency Group · Grayscale · NYSE Arca · SEC · Securities and Exchange Commission · U.S. Securities and Exchange Commission · Zcash
Claims
What the coverage asserts, and how many sources carry each claim.
- [● 5 SOURCES] The proposed Zcash ETF will have an annual management fee of 2.5%. www.criptotendencias.com · cryptobriefing.com · www.blockmedia.co.kr · bitcoinethereumnews.com · coinedition.com
- [● 10 SOURCES] Digital Currency Group (DCG) is in non-binding discussions to contribute approximately 200,000 ZEC to the trust. koinbulteni.com · www.tronweekly.com · www.criptotendencias.com · www.spacemoney.com.br · ambcrypto.com · +5 more
- [○ 1 SOURCE] Grayscale's Zcash Trust is scheduled to begin trading on NYSE Arca around August 25. cryptobriefing.com
- [● 11 SOURCES] Zcash (ZEC) price surged above $800, breaking its January 2018 peak. koinbulteni.com · www.tronweekly.com · blockchainreporter.net · www.spacemoney.com.br · www.coincu.com · +6 more
- [DISPUTED] Zcash reached a market capitalization of approximately $13.87 billion. koinbulteni.com · www.tronweekly.com · www.spacemoney.com.br · www.blockmedia.co.kr
- [● 11 SOURCES] Grayscale has filed amendments to convert its Zcash Trust into a spot ETF on NYSE Arca using the ticker ZCSH. koinbulteni.com · www.tronweekly.com · www.criptotendencias.com · mycryptoparadise.com · www.spacemoney.com.br · +6 more
- [● 3 SOURCES] Zcash futures trading volume reached approximately $4.55 billion. koinbulteni.com · www.tronweekly.com · www.spacemoney.com.br
- [● 4 SOURCES] The Zcash network successfully deployed the Ironwood (NU6.3) mainnet upgrade. ambcrypto.com · www.coincu.com · www.blocktempo.com · koinbulteni.com