Key facts
- Grayscale's Zcash ETF is expected to launch on or about August 25.
- The ETF will trade under the ticker ZCSH on NYSE Arca.
- The management fee for the Grayscale Zcash ETF is set at 2.5%.
- Zcash futures open interest has surged 12% to $1.91 billion.
- ZEC reached its highest price since 2018.
Zcash has reached its highest price since 2018, surging nearly 50% in four days, as investor interest in its derivatives market intensifies. Open interest in ZEC perpetual futures has nearly doubled from $962.5 million to $1.8 billion in five days, with 24-hour volume reaching $5.3 billion. This surge in futures activity coincides with Grayscale's Zcash ETF, set to launch on August 25 with a 2.5% management fee, which has also boosted ZEC's open interest to $1.91 billion, surpassing that of Dogecoin and BNB.
Zcash, a privacy coin, has seen a remarkable run over the past year, appreciating by over 1,800%. Its appeal has grown as investors seek alternatives to Bitcoin with stronger privacy protections. The impending ETF launch, filed with the U.S. SEC, has further fueled interest. However, the coin experienced a significant drop in June due to a disclosed flaw in its shielded pool, though developers issued an emergency patch and activated the Ironwood upgrade in July to address the issue.
Winklevoss-backed Cypherpunk Technologies also launched a Zcash mining operation in August, estimating it represents 18% of the network's hashrate.