Zcash (ZEC) climbed to roughly $840 on Monday, up about 6% over 24 hours and near an eight-year high, with the token reaching $857 in recent sessions and rising close to 70% over the past week. The move came as Grayscale’s Zcash Trust conversion into a spot ETF headed for an expected listing on NYSE Arca on or about August 25 under the ticker ZCSH.
Grayscale filed its fifth amendment to the conversion on August 21, following a fourth amendment filed August 18. The trust is moving from the OTCQX marketplace, where it has traded since October 2021, onto NYSE Arca’s primary listing venue. The new structure introduces continuous share creation and redemption run by authorized participants Jane Street Capital and Virtu Americas, with Coinbase Custody continuing to hold the tokens and Bank of New York Mellon serving as transfer agent. Grayscale will charge a 2.5% annual sponsor fee. The trust currently holds roughly 391,000 to 393,000 ZEC worth more than $260 million.
If completed, the fund would become the first US ETF to track Zcash directly, giving investors regulated exposure to the privacy-focused token without holding it themselves. Futures volume tied to ZEC has climbed toward $10 billion in recent sessions, suggesting derivatives traders have already positioned around the listing. Still, the SEC has not yet signed off on the conversion, and repeated amendments point to continued back-and-forth with regulators rather than a settled structure.
The rally marks a sharp reversal from June, when Zcash lost roughly half its value after a security vulnerability forced an emergency network upgrade. ZEC has now recovered above its pre-incident levels and reached prices last seen in early 2018, making it one of the best-performing large-cap tokens of the past month.
Broader crypto markets were also positive. Bitcoin held above $77,000, trading at $77,463.98, while Ethereum gained 3% to $2,456.64, BNB rose 2.5% to $699.82, XRP added 1.9% to $1.48 with $4.76 billion in volume, and Solana climbed 1.9% to $94.57. Dogecoin advanced 2.9% to $0.09171, while Hyperliquid rose 2.7%. Among smaller tokens, Pons surged 75% to $0.07022, Dog (Bitcoin) jumped 52.1%, and Purr gained 50.1%.
