$ZEC $TRUMP $XRP Grayscale submits an application to convert its Zcash trust into a spot ETF in the United States. The moment this news drops, the ZEC price chart is instantly ignited. In a short period, the price jumped by nearly 48%, even breaking above $857 at one point, setting a new high since January 2018—an eight-year peak.
The logic behind this surge isn’t complicated. Grayscale plans to convert its ZEC trust into a spot ETF and intends to list it on the NYSE Arca, with a fee rate set at 2.5%. Seeing this setup, the market clearly expects the U.S.’s first ZEC spot ETF, so speculative capital naturally rushes in. Grayscale’s ZEC trust shares, ZCSH, are also set to begin trading on August 25—effectively adding fuel to the fire.
In plain terms, the crypto market is still most sensitive to ETF-related news. As long as there’s optimism about approval, capital is willing to take a gamble. How far ZEC can run from here mostly depends on the progress of ETF approvals. If approval goes smoothly, sentiment may continue; but if there’s any uncertainty, any pullback in a short-term pumped-up coin price won’t be slow either.#TRUMP突破3.4美元创3月21日以来新高 #Grayscale第五次修订ZECETF申请
The logic behind this surge isn’t complicated. Grayscale plans to convert its ZEC trust into a spot ETF and intends to list it on the NYSE Arca, with a fee rate set at 2.5%. Seeing this setup, the market clearly expects the U.S.’s first ZEC spot ETF, so speculative capital naturally rushes in. Grayscale’s ZEC trust shares, ZCSH, are also set to begin trading on August 25—effectively adding fuel to the fire.
In plain terms, the crypto market is still most sensitive to ETF-related news. As long as there’s optimism about approval, capital is willing to take a gamble. How far ZEC can run from here mostly depends on the progress of ETF approvals. If approval goes smoothly, sentiment may continue; but if there’s any uncertainty, any pullback in a short-term pumped-up coin price won’t be slow either.#TRUMP突破3.4美元创3月21日以来新高 #Grayscale第五次修订ZECETF申请
