- Grayscale’s 2025 Zcash ETF bid is drawing fresh attention as ZEC daily derivatives volume reaches $5.6 billion.
- ZEC trades near $560 after its weekly rally, while the SEC probe closure and Multicoin’s position support renewed market focus.
Grayscale’s Zcash ETF bid has returned to market focus as ZEC records heavy trading activity and renewed institutional attention. Grayscale submitted the plan to convert its Zcash Trust into a spot ETF in November 2025. However, traders are watching it more closely now as the Zcash price rallies and derivatives activity expands.
ZEC traded at $551 on Tuesday after cooling from recent highs above $600. The privacy coin gained over 30% over the past week, even after short-term selling pressure. Daily derivatives volume reached about $5.6 billion, showing that traders are placing fresh bets around the asset’s next move.
Grayscale’s proposal seeks to list the product on NYSE Arca under the ticker ZCSH. If approved, the trust would become the first spot ETF tied to a privacy-focused crypto asset. The product would not give investors direct ownership of ZEC. Instead, shares would reflect the value of ZEC held by the trust, minus fees and liabilities.
The renewed attention also follows a softer regulatory backdrop for Zcash. The SEC closed its probe into the Zcash Foundation in January without recommending enforcement action or rule changes. That outcome eased one pressure point for privacy coins, which have often faced stronger scrutiny.
ZEC Demand Rises as ETF Debate Returns
Market interest also increased after Multicoin Capital co-founder Tushar Jain said the firm had been accumulating ZEC since February 2024. His comments added to the institutional narrative around Zcash at a time when privacy assets have started drawing fresh attention.
Zcash allows users to send shielded transactions that keep transaction details private while still allowing transfers to remain verifiable on-chain. That feature remains central to the asset’s appeal, especially as investors discuss privacy tools within regulated markets.
Recent technical developments have pointed to renewed focus on FCMP++, an upgrade linked to privacy and scalability improvements.
On the price chart, ZEC is holding the $540 to $550 range after a strong weekly rally. That area now acts as a key short-term support zone. A hold above it could keep buyers active and open another attempt toward $600.
A move above $600 would bring the $640 area back into focus, where the token recently faced selling pressure. If buyers push through that level, traders may watch $700 as the next resistance zone. Some technical forecasts place a wider bullish target near $800, though that depends on sustained volume and market support.
