Zcash crosses $700 as an ETF push stacks onto the market rally

@Zcash pushed past $700 on August 21, reclaiming a resistance zone that capped its November rally. The privacy-focused token gained 21.5% on the day and 42.7% over the prior week, with 24-hour trading volume more than doubling to $1.44 billion. $ZEC now ranks eleventh by market cap at approximately $11.79 billion.

Grayscale Files Fourth ETF Amendment

The price move came alongside fresh momentum in @Grayscale's effort to convert its Zcash Trust into a spot ETF. Grayscale filed its fourth amendment with the SEC on August 19, 2026, aiming to advance the conversion of its fund into the Zcash ETF. The filing proposes renaming the current vehicle and listing its shares on NYSE Arca under the ticker symbol ZCSH.

If approved, ZCSH would be the first U.S. spot ETF for a privacy coin, following the SEC's closure of its long-running probe of the Zcash Foundation in January 2026 with no enforcement action. The same conversion mechanism was used to transform the Grayscale Bitcoin Trust into the GBTC spot ETF in January 2024 and the Grayscale Ethereum Trust into ETHE in May 2024.

DCG Subsidiary in Talks for a $110M ZEC Position

The regulatory filing also revealed that DCG International Investments Ltd., a subsidiary of Digital Currency Group, is in negotiations to contribute nearly 200,000 ZEC units to the fund. At the time of disclosure, that volume represents an estimated value of $110 million. Grayscale stressed that no binding purchase agreement has been reached and that the eventual transaction, if one takes place, could differ substantially from the amount under discussion.

DCG already has deep ties to the Zcash network. Fortitude Mining, a DCG subsidiary, mines ZEC and runs infrastructure on the network, while Foundry Digital operates a ZEC mining pool that accounted for approximately 15.4% of the Zcash network's hash rate for the month ended July 2026.

The filing also details the June Orchard vulnerability and the subsequent Ironwood upgrade, which retired the affected shielded pool and introduced safeguards against counterfeit ZEC. As of June 30, the trust's net asset value stood at $155.2 million, with the fund holding about 2.3% of circulating ZEC supply. The listing remains subject to SEC review and NYSE Arca approval before shares can trade on the exchange.

Sources
Grayscale Zcash Trust Form S-3/A Amendment, SEC EDGAR
Grayscale updates Zcash ETF filing as DCG unit weighs $110M ZEC buy, Crypto.news
Grayscale's latest Zcash ETF amendment shows DCG in talks to contribute 200,000 ZEC, The Block