A fund worth a whopping 28,00% a year—valued at $890 million—splits itself into three parts because it’s too expensive
The one that holds it is Grayscale’s Zcash fund listed on the New York Stock Exchange Arca. On September 18, Grayscale filed a 3-for-1 split application with the SEC: as of September 28, existing shareholders receive 2 extra shares for every 1 they hold, and trading begins at the new price starting September 30. The reason: the price has risen too fast—at that level, a single share is so expensive that typical brokerage accounts can’t buy in. Ten shares × $300 becomes thirty shares × $100.
The fund only converted from a trust into a listed vehicle on August 25. Cumulative net inflows reached $233 million, with $112 million in a single day on September 8.
On-site (12:37 data): <t-2/> $ZEC current price $1597.41, up 9.60% over the last 24 hours; intraday high 1650; trading volume $525 million, third place across the board.
The contract open interest increased over 24 hours from 460,165 contracts to 499,834 contracts, up 8.62%, about $798 million. Funding rate is pinned around the 0.01% benchmark, so long positions haven’t been squeezed into a premium. On the “large trader” position metric, longs account for 52.12%, while on the “number of traders” metric they’re only 30.45%—the side with more money stands on the buy side, while the side with more participants stands on the sell side. Net active buy/sell volume is 0.79: bought 17,841 and sold 22,585.
News momentum this week has been back-to-back: Grayscale’s stock split; on September 18, Paradigm cofounder Matt Huang bought it; on November 5, NU7 compressed the block release time from 75 seconds down to 25 seconds. On the chart, the daily line is above the MA20 at 1279.78, with a deviation of 25.34%; RSI14 is 63.74, and 1-hour RSI14 is 68.15. The evidence favors the medium-term bullish side more strongly; the current short-term candle is a bit “hot”—without volume lifting past 1650, it may pause first.
Resistance above is 1650; support below is 1427.5. If it breaks this move, we won’t look further.
This is early in the bull market—gold everywhere. For the long term, hold it; you can enter even with a small position at the current price for $ZEC . Buy as it drops—buy more on bigger dips. For 1650, are you planning to wait for a pullback before taking entries, or are you joining in right now based on the stock-split news?
$ZEC
#ZEC Breaks through $1600 to set a new all-time high
The one that holds it is Grayscale’s Zcash fund listed on the New York Stock Exchange Arca. On September 18, Grayscale filed a 3-for-1 split application with the SEC: as of September 28, existing shareholders receive 2 extra shares for every 1 they hold, and trading begins at the new price starting September 30. The reason: the price has risen too fast—at that level, a single share is so expensive that typical brokerage accounts can’t buy in. Ten shares × $300 becomes thirty shares × $100.
The fund only converted from a trust into a listed vehicle on August 25. Cumulative net inflows reached $233 million, with $112 million in a single day on September 8.
On-site (12:37 data): <t-2/> $ZEC current price $1597.41, up 9.60% over the last 24 hours; intraday high 1650; trading volume $525 million, third place across the board.
The contract open interest increased over 24 hours from 460,165 contracts to 499,834 contracts, up 8.62%, about $798 million. Funding rate is pinned around the 0.01% benchmark, so long positions haven’t been squeezed into a premium. On the “large trader” position metric, longs account for 52.12%, while on the “number of traders” metric they’re only 30.45%—the side with more money stands on the buy side, while the side with more participants stands on the sell side. Net active buy/sell volume is 0.79: bought 17,841 and sold 22,585.
News momentum this week has been back-to-back: Grayscale’s stock split; on September 18, Paradigm cofounder Matt Huang bought it; on November 5, NU7 compressed the block release time from 75 seconds down to 25 seconds. On the chart, the daily line is above the MA20 at 1279.78, with a deviation of 25.34%; RSI14 is 63.74, and 1-hour RSI14 is 68.15. The evidence favors the medium-term bullish side more strongly; the current short-term candle is a bit “hot”—without volume lifting past 1650, it may pause first.
Resistance above is 1650; support below is 1427.5. If it breaks this move, we won’t look further.
This is early in the bull market—gold everywhere. For the long term, hold it; you can enter even with a small position at the current price for $ZEC . Buy as it drops—buy more on bigger dips. For 1650, are you planning to wait for a pullback before taking entries, or are you joining in right now based on the stock-split news?
$ZEC
#ZEC Breaks through $1600 to set a new all-time high