Zcash surged more than 30% in 24 hours after Grayscale Investments accumulated approximately $46 million worth of ZEC, driving trading volume above $760 million.
The rally pushed ZEC to around $170.60, with gains of roughly 33.6%, marking one of its strongest single-day moves in recent weeks amid rising institutional demand.
The accumulation was executed using shielded transactions, highlighting deliberate use of Zcash’s privacy features and signalling long-term positioning rather than short-term speculation.
Grayscale previously filed to convert its Zcash Trust into a spot ETF on NYSE Arca, fuelling speculation that the latest buying may be linked to preparations for a potential approval.
Regulatory sentiment has also improved after the US Securities and Exchange Commission closed its investigation into Zcash in January 2026 without enforcement action.
The removal of this regulatory overhang has helped revive institutional interest in privacy-focused cryptocurrencies, which had faced delistings in prior years.
While elevated trading volume suggests strong participation, analysts warn that ZEC has historically seen sharp pullbacks after rapid rallies, with key support and resistance levels now in focus.
At the time of reporting, Zcash price was $317.97.