Updated: 2026-08-22
Over the past 24 hours, the price of the cryptocurrency Zcash has increased by 22%, reaching $818.77 on Saturday. This continues the week-long rally, supported by Grayscale's efforts to convert its Zcash Trust into an exchange-traded fund.
According to CoinGecko, the privacy-focused cryptocurrency briefly rose to a resistance level of $855, marking its highest price since 2018. The market capitalization of $ZEC surpassed $14 billion, allowing the cryptocurrency to secure the 12th position among the largest cryptocurrencies.
The upward movement began even before Grayscale filed its fifth amended registration statement on Friday, September 21st. Boosted by the surge in Bitcoin and other major cryptocurrencies over the week, $ZEC has gained more than 71%.
Regarding Grayscale, the organization's amendment stated that the existing Grayscale Zcash Trust would be renamed The Zcash ETF, with an annual management fee set at 2.5%.
If approved, this conversion would make the Zcash ETF the first fund in the U.S. to directly track the price of $ZEC. Similar altcoin ETFs have been launched for Solana, $XRP, Litecoin, Doge, BNB, Hyperliquid, etc.
Capital inflows into these vary. For instance, the net inflow for the $XRP ETF over the past week was $40 million, and for the Solana ETF, $28 million, according to data from SoSoValue, while Bitcoin funds attracted approximately $2 billion in capital during the same period.
During the sharp price increase of $ZEC, derivatives markets showed heightened activity: according to Coinglass, the trading volume for $ZEC futures over the last 24 hours exceeded $9.5 billion, compared to $1.06 billion on spot exchanges. Open interest currently stands at $1.8 billion, equivalent to roughly 13% of $ZEC's market capitalization.
At its peak on Saturday, $ZEC had more than tripled from its June low, trading 35% above the pre-selloff level. However, $ZEC still remains approximately 75% below its all-time high of $3,191.93.
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