One of the most important days in ZEC history—Grayscale Zcash ETF (code ZCSH) officially began trading on the NYSE Arca today, the first ZEC spot ETF in the United States.
From the numbers: ZEC this week rose from about $490 to $859 today, the highest price in 8 years—up more than 75%. 24-hour futures trading volume is about $9.5 billion, and spot trading volume is about $1.06 billion—futures are 9 times spot, indicating that leverage is the main fuel in this rally. 24-hour short liquidations exceeded $23 million, 25 times the long liquidations—a classic short squeeze.
But today is not only a story of a squeeze.
The structure of ZCSH is: it holds up to 393,000 ZEC (about $260 million), Coinbase Custody provides custody, BNY Mellon acts as transfer agent, a 2.5% annual management fee, and it is listed on NYSE Arca. A DCG subsidiary is currently discussing injecting roughly 200,000 ZEC into the fund as a seed position.
This is the third time Grayscale has run the same playbook on ZEC—GBTC became a GBTC ETF, ETHE became an ETHE ETF, and now it’s ZCSH.
ZEC is still about 73% away from its all-time high of $3,191, but today’s $859 is a price not seen since at least 2018. Technically, RSI is 86—extremely overbought—with a bullish three-line EMA alignment. The risk of a short-term pullback is real; support is at $750–$800.
What’s driving the rise in ZEC is the ETF narrative, not Zcash’s technology itself—both of these things are worth watching today.
$BTC
$ZEC
#zec突破关键阻力涨75.5%
From the numbers: ZEC this week rose from about $490 to $859 today, the highest price in 8 years—up more than 75%. 24-hour futures trading volume is about $9.5 billion, and spot trading volume is about $1.06 billion—futures are 9 times spot, indicating that leverage is the main fuel in this rally. 24-hour short liquidations exceeded $23 million, 25 times the long liquidations—a classic short squeeze.
But today is not only a story of a squeeze.
The structure of ZCSH is: it holds up to 393,000 ZEC (about $260 million), Coinbase Custody provides custody, BNY Mellon acts as transfer agent, a 2.5% annual management fee, and it is listed on NYSE Arca. A DCG subsidiary is currently discussing injecting roughly 200,000 ZEC into the fund as a seed position.
This is the third time Grayscale has run the same playbook on ZEC—GBTC became a GBTC ETF, ETHE became an ETHE ETF, and now it’s ZCSH.
ZEC is still about 73% away from its all-time high of $3,191, but today’s $859 is a price not seen since at least 2018. Technically, RSI is 86—extremely overbought—with a bullish three-line EMA alignment. The risk of a short-term pullback is real; support is at $750–$800.
What’s driving the rise in ZEC is the ETF narrative, not Zcash’s technology itself—both of these things are worth watching today.
$BTC
$ZEC
#zec突破关键阻力涨75.5%
