Zcash Surges to $1,500 as ETF Approaches $1 Billion

Zcash's native token ZEC has surged to approximately $1,500, marking a roughly 215% rally from around $470 in mid-August, driven by institutional demand, social media activity, and anticipation for a network upgrade. The price advance has coincided with rapid growth for Grayscale's spot Zcash ETF, which is approaching $1 billion in assets. The Grayscale Zcash ETF, trading under the ticker ZCSH on NYSE Arca, has accumulated over $900 million in net assets since its August 25 launch, according to SoSoValue data. The fund has attracted more than $233 million in cumulative net inflows. To make shares more accessible after the sharp rise in the underlying asset's price, Grayscale announced a 3-for-1 forward share split. Shareholders of record at the close of September 28 will receive two additional shares for each share held, with split-adjusted trading expected to begin on September 30. The rally has been fueled by several converging factors. Social volume for ZEC reached a one-month high on September 17, with data from Santiment showing that activity on the platform X accounted for approximately 85% of mentions.