Crypto asset manager Grayscale Investments has jumped on the Zcash hype by filing for an exchange-traded fund that would give investors exposure to the privacy coin.  A Wednesday filing with the Securities and Exchange Commission shows that Grayscale wants to convert its Grayscale Zcash Trust into an ETF. If approved, it would be the first ETF giving investors exposure to the coin.  Zcash enables users to send and receive money in private by encrypting transaction information using zero-knowledge proofs—a c ...

$ZEC ETP INCOMING.Grayscale (@Grayscale):We’ve filed the ZCSH Form S-3 - an important step required to launch the first ZEC ETPs.Zcash launched in 2016. Seeing the potential of the Zcash protocol, we launched Grayscale Zcash Trust (Ticker: ZCSH) as a private placement in 2017. ...

RT Grayscale (@Grayscale)Privacy 🔒Grayscale Zcash Trust (Ticker: $ZCSH) is the only U.S publicly listed fund providing exposure solely to @Zcash $ZEC through certain brokerage accounts.https://t.co/I6pymX0VmH ...

Core Insights - Increased institutional interest and community hype have significantly boosted Zcash, reaching levels not seen since early 2022 [1] - The Grayscale Zcash Trust has seen a substantial rise in value, from $4.9 million to $13.8 million over the past 30 days, with a current market cap of $66 million [1] - ZEC has experienced a 36% gain in the past 24 hours, trading at $180.7, with a market cap of $2.93 billion and a daily trading volume of approximately $750 million [2] Market Performance - The Grayscale Zcash Trust recorded a 340% rally over the past six months, indicating strong investor interest [1] - The recent price surge has led to $2 million in short liquidations for ZEC futures traders, contributing to positive sentiment around the token [2] Price Expectations - The Zcash community is expressing hopes for a price target of $5,000, despite ZEC being 97% down from its all-time high of $5,941 [3] - To reach the $5,000 mark, Zcash would require a market value of $81.25 billion, while breaking the previous all-time high would necessitate a market cap of $96.54 billion [4] - A more realistic price target for ZEC is suggested to be between $800 and $1,000, given current market conditions [5]

Core Insights - The crypto market is experiencing a significant surge in October, referred to as "Uptober," driven by rising spot demand rather than leveraged bets, indicating a healthier market environment [1][6]. Bitcoin Performance - Bitcoin (BTC) has achieved substantial gains, briefly reaching a new all-time high of $125,700 on October 6, and recording its highest-ever weekly close at $122,689, supported by macroeconomic factors like anticipated rate cuts and renewed institutional interest [2][3]. Zcash Highlights - Zcash (ZEC) has surged approximately 123% in the past week, trading around $151, attributed to its "Bitcoin-like" design and privacy features, further boosted by Grayscale's launch of its Zcash Trust [4][5]. - Following the announcement of the Zcash Trust, trading volume for Zcash exceeded $1 billion, reflecting heightened market interest [5]. BNB Developments - BNB, the native token of the Binance ecosystem, reached a new all-time high of $1,219 on October 6, with a total value locked (TVL) increasing from $7.58 billion to $8.69 billion, the highest in over three years, driven by renewed investor confidence [7][8].