Zcash Surges to 2016 Highs After ETF Launch

Zcash is seeing its strongest price action in years. The privacy focused coin jumped 45 percent over the past week as investors react to a significant structural change in how the asset is managed.

The recent rally follows the conversion of the Grayscale Zcash Trust into an exchange traded fund. Trading for this new product kicked off on August 25 and appears to have sparked fresh interest from market participants who prefer traditional investment vehicles.

This move puts the coin back in the spotlight for many traders. The market capitalization for the asset has climbed past the 20 billion dollar mark, marking a significant milestone for the project.

Observers are now watching to see if this momentum holds or if the price faces a pullback after such a rapid climb. Maintaining this level of volume will be the main factor to watch as the market settles into this new phase.