ZEC has been in the spotlight over the past couple of days, half of it driven by an ETF filing that has yet to go anywhere.
Market reports say someone filed for a spot Zcash ETF planned for listing on Nasdaq, with a 0.25% management fee and an accompanying market-support commitment of up to $100 million. Custody would be handled by a U.S.-regulated trading platform. The filing has put the question of whether privacy coins can enter U.S. equity markets back on the table.
But on-chain activity is also heating up. Some say a new address withdrew 7,166 ZEC from an exchange in a single transaction, worth about $9.67 million. Public discussions have also pointed to ZEC short positions worth roughly $52.82 million, with an average price near $1,340. Meanwhile, products such as Grayscale ZCSH have seen net outflows.
It’s important to distinguish the timelines: the NU7 upgrade has only been activated on testnet so far, cutting block times from 75 seconds to 25 seconds. The mainnet decision date is October 20, with activation targeted for November 5. Testnet is not mainnet, and an ETF filing is not an approval.
So the question isn’t whether ZEC has a story, but which will materialize first: the ETF filing, faster testnet performance, or whales taking the other side of the trade?
If the ETF is still just a filing and the upgrade remains on testnet, can the rebound around $1,360 still be considered a trend?
Market reports say someone filed for a spot Zcash ETF planned for listing on Nasdaq, with a 0.25% management fee and an accompanying market-support commitment of up to $100 million. Custody would be handled by a U.S.-regulated trading platform. The filing has put the question of whether privacy coins can enter U.S. equity markets back on the table.
But on-chain activity is also heating up. Some say a new address withdrew 7,166 ZEC from an exchange in a single transaction, worth about $9.67 million. Public discussions have also pointed to ZEC short positions worth roughly $52.82 million, with an average price near $1,340. Meanwhile, products such as Grayscale ZCSH have seen net outflows.
It’s important to distinguish the timelines: the NU7 upgrade has only been activated on testnet so far, cutting block times from 75 seconds to 25 seconds. The mainnet decision date is October 20, with activation targeted for November 5. Testnet is not mainnet, and an ETF filing is not an approval.
So the question isn’t whether ZEC has a story, but which will materialize first: the ETF filing, faster testnet performance, or whales taking the other side of the trade?
If the ETF is still just a filing and the upgrade remains on testnet, can the rebound around $1,360 still be considered a trend?