zcash

Zcash (ZEC) fell 7.6% to $787 on Wednesday, giving back a 56% gain from the previous week that had pushed the price to an eight-year high of around $880. This pullback coincided with Grayscale's Zcash Trust converting to a spot ETF and listing on the NYSE Arca on Tuesday (ticker ZCSH), with the trust holding approximately 393,000 ZEC, valued at over $260 million.In the days leading up to the ETF listing, ZEC surged from below $600 to above $880, reaching its highest level since 2018, as the market compared it to Bitcoin's 21 million supply cap and proof-of-work mechanism, promoting its "next Bitcoin" narrative. During this period, the open interest in ZEC perpetual contracts nearly doubled to $1.8 billion, with leveraged funds potentially accelerating both the upward and downward movements.In the overall market, Bitcoin fell 2% to $78,900, with most major cryptocurrencies closing lower, marking a pause in the week-long crypto rebound.

According to BBX data, yesterday global digital asset funds, compliant financial infrastructure, and institutional merger and acquisition transactions disclosed the latest official ledgers and capital flows. The core dynamics are as follows:Grayscale Zcash spot ETF officially listed on the NYSE Arca: Grayscale's Grayscale Zcash Trust has officially completed its conversion and is now trading as a spot ETF on the New York Stock Exchange Arca, with the stock code "ZCSH". A Grayscale spokesperson stated that the management fee for this ETF is 2.5%, and all income generated will be reinvested into the Zcash ecosystem to promote and enhance the infrastructure and broader development of this privacy network.tZERO and Sui reach strategic cooperation to connect compliant securities infrastructure in the US stock market: Leading blockchain financial infrastructure platform tZERO announced a strategic partnership with the public chain Sui. tZERO will provide full-process support for regulated digital asset securities trading within the Sui ecosystem, covering asset issuance, transfer agent, asset custody, secondary matching transactions, compliance review, and clearing and settlement, significantly expanding Sui's ability to access US domestic financial infrastructure that meets institutional standards.Crypto custodian Copper receives a $200 million potential acquisition offer, valuation down over 90% from peak: The UK-based veteran crypto custodian Copper, once valued at $2.5 billion, has recently attracted interest from new potential buyers, but the acquisition offers received so far are only about $200 million. This valuation not only has significantly decreased but is also far below the $500 million acquisition intention proposed by Cantor Fitzgerald a few months ago, reflecting the valuation pressure in the institutional custody sector amid the transition between bull and bear markets and regulatory reshuffling.RockawayX plans to raise $150 million for a new liquidity fund: Digital asset investment firm RockawayX, which manages approximately $2 billion in assets, announced that it is currently seeking to raise $150 million for its new "Liquidity Opportunity Fund." Previously, RockawayX successfully completed the full acquisition of the crypto hedge fund Relayer Capital, continuously expanding its layout in the secondary market and liquidity strategies.

According to Decrypt, Grayscale's Zcash spot ETF has officially been listed on the NYSE Arca, with the stock ticker ZCSH, becoming the world's first exchange-traded product providing exposure to Zcash (ZEC).The product is a successor to the Grayscale Zcash Trust, which was established in October 2017 as a private placement. Grayscale stated that ZCSH aims to meet the demand from investors for exposure to cryptocurrency assets beyond Bitcoin and Ethereum through traditional brokerage accounts.Steve Vanourny, head of Grayscale's index business, stated that Zcash has nearly a decade of network history, a fixed supply cap of 21 million coins, and a PoW mechanism, while also offering optional privacy features that Bitcoin does not have. The company positions ZCSH as a high-risk satellite position in a digital asset portfolio. It is worth noting that at the time of ZCSH's listing, the serious privacy system vulnerabilities previously disclosed by Zcash are still a concern in the market.In May of this year, researchers discovered exploitable vulnerabilities in the Zcash Orchard privacy pool, which theoretically could allow attackers to forge ZEC. Zcash subsequently deployed an emergency patch in June and activated the Ironwood upgrade in July to replace the vulnerable Orchard privacy pool and limit the potential forged ZEC from entering circulation through new supply accounting rules. Grayscale stated that it will focus on the adoption of the Ironwood upgrade, network security, exchange support, and regulatory policies for privacy assets in the future.

According to Gate data, ZEC reached an approximately 8-year high today, hitting a peak price of $888, the highest since 2018, with a weekly increase of over 70%, and is currently maintaining a high position around $844.The Zcash community will conduct a token holder vote starting on the 24th for about 18 days to determine the scope of the upcoming NU7 upgrade. The minimum voting participation threshold is 1 million ZEC. Voting rights are based on the spendable, shielded ZEC held in the Ironwood pool at the time of the snapshot (expected on the 24th at 19:00 UTC, with a mainnet block height of approximately 3,459,350). Voting will open on August 25 and end on September 14 at 19:00 UTC, conducted privately through supporting wallets, with results only published as aggregated data.

According to The Block, Grayscale submitted its fifth amendment application to the U.S. Securities and Exchange Commission (SEC) on August 21, further advancing its plans for the listing of the Zcash ETF. The latest application indicates that the product will officially be renamed "The Zcash ETF," with an annual management fee set at 2.5%, and plans to list on the New York Stock Exchange Arca under the code "ZCH," with Coinbase Custody Trust Company as the custodian and BNY Mellon as the transfer agent.This ETF will be converted from Grayscale's existing Zcash trust, which has been operating since 2017 and currently has assets under management exceeding $260 million. In the previous fourth amendment application, a subsidiary of Grayscale's parent company, Digital Currency Group, had negotiated to inject approximately 200,000 ZEC into the fund.

The Grayscale Zcash research report points out that as AI development brings new means of financial monitoring, Zcash's privacy features may become a necessary function in the AI era. Zcash achieves shielded transactions through zero-knowledge proofs, hiding the sender, receiver, and amount, possessing cash-like privacy attributes. Currently, shielded transactions account for about 90% of the transaction volume, with approximately 4.2 million ZEC shielded (accounting for 25% of the circulating supply).Grayscale notes that Zcash has a market capitalization of about $8 billion, which only accounts for 0.6% of its category "currency-type crypto assets" (total market capitalization of $1.4 trillion). If this category's share reaches 5%, the value of ZEC would be nine times its current value. The report believes that the market's current valuation of Zcash reflects the assumption that "privacy will remain marginalized," and if investors ultimately believe that privacy should receive a moderate premium, the current valuation may be underestimated. In terms of risks, the report mentions long-term risks such as regulation and quantum computing, but believes that Zcash's shielding technology and selective disclosure tools provide a pathway for compliance.

According to BBX data, yesterday global US stock, Hong Kong stock listed companies, and asset management giants disclosed the latest developments in digital asset injection, compliance trust listings, and institutional-level custody, with the core information as follows:ZeroStack received a $1 billion Memecore token injection: 0G Treasury Company ZeroStack Corp. (NASDAQ: $ZSTK) announced that Puple AI Inc. and Blockcat Pte. Ltd. have reached an agreement to inject a total value of $1 billion in Memecore tokens (M) into the company. In exchange, ZeroStack will issue 3,500,000 shares of common stock, as well as pre-financing warrants to purchase up to 36,198,293 additional shares of common stock (with an issue price of $25.19 per share, more than 12 times the recent market price).Grayscale advances Zcash Trust listing on the NYSE Arca market: Grayscale submitted the fourth amendment of the registration statement for Grayscale Zcash Trust (ZEC) to the SEC, intending to list it on the NYSE Arca market (code: ZCSH). After listing, it will support authorized participants to continuously purchase and redeem shares (previously traded only on OTCQX and not redeemable). As of June 30, 2026, the trust holds approximately 2.3% of the circulating supply of ZEC, with a net asset value (NAV) of approximately $155.2 million; additionally, a subsidiary of Grayscale's parent company DCG is negotiating to purchase trust shares with approximately 200,000 ZEC.OSL Group's enterprise-level stablecoin USDGO connects to Ceffu institutional custody: Hong Kong listed company OSL Group (00863.HK) announced that its compliant enterprise-level stablecoin USDGO has officially become one of the custodial assets of the institutional digital asset custody platform Ceffu. Qualified Ceffu institutional clients can now directly deposit, hold, and withdraw USDGO through their exclusive custody accounts.

Grayscale submitted the fourth amendment to the registration statement for the Grayscale Zcash Trust (ZEC) to the SEC, intending to list the trust on the NYSE Arca market under the ticker ZCSH.After listing, authorized participants can continuously purchase and redeem trust shares, whereas previously the trust only supported trading on the over-the-counter market (OTCQX) and did not allow redemptions. As of June 30, 2026, the trust holds approximately 2.3% of the circulating supply of ZEC, with a NAV of about $155.2 million.In addition, a subsidiary of Grayscale's parent company DCG is in talks to purchase trust shares with approximately 200,000 ZEC, but no binding agreement has been formed yet.

Cypherpunk Mining announced its official launch, and its 4.2 Gsol/s Equihash computing power deployed in the United States has made it the largest Zcash miner in the world.The company has acquired a fleet of Bitmain Z15 Pro miners previously deployed across the United States by signing a $33.33333 million asset acquisition agreement with Winklevoss Capital, currently producing about 7,800 ZEC per month and has achieved cash flow.Cypherpunk stated that the current unit electricity revenue from Zcash mining is about twice that of AI data center hosting and three times that of Bitcoin mining, and the capital expenditure for equipment is far lower than that of AI infrastructure. The company has no debt and plans to gradually vertically integrate into data centers and power assets.

ZEC financial company Cypherpunk disclosed on platform X that Ironwood has surpassed Orchard to become the largest shielded pool on Zcash.The latest data shows that the Ironwood shielded pool has locked a total of 1,976,378 ZEC, worth over 1 billion dollars.

Fortitude Mining, a mining company under Digital Currency Group (DCG), has signed a procurement agreement worth approximately $45 million, involving mining hardware and infrastructure in Nebraska, to advance the vertical integration of Zcash mining.This expansion includes a $31.5 million commitment for mining equipment purchases, as well as two acquisitions totaling $13.9 million, which include power contracts, land, buildings, and mining equipment. Fortitude stated that its controlled data center capacity has increased to over 60 megawatts by 2026. Fortitude is advancing a proposed merger with Nasdaq-listed HeartSciences Inc.; if completed, this mining company under DCG will gain public listing status. In the first quarter of 2026, Zcash accounted for 61% of Fortitude's mining revenue, while Bitcoin's share dropped to 36%.

Zcash founder Zooko Wilcox posted on platform X, stating that some users believe there may be a secret increase in the supply of ZEC, and that it may take waiting for the Ironwood migration to complete or even months or years to confirm, but this view is incorrect.Zooko Wilcox stated that users can currently verify the current supply of ZEC themselves through their local computers, with data showing that the total supply of ZEC is 16,848,458 coins.

According to official news, a total of 129,396 ZEC have been migrated to the Ironwood shielded pool, valued at over 60 million dollars at current prices.The official statement said that Ironwood, as the latest shielded pool for Zcash, has completed formal verification, supports independent audits, and is currently carrying an increasing proportion of shielded funds in the network.

Gemini co-founder Cameron Winklevoss posted on the X platform last night that AI trading has ended, and a large amount of capital is seeking a safe haven. It is time to rotate back to "the hardest currencies in the universe"------Bitcoin and Zcash.On Tuesday, the South Korean KOSPI index plummeted by 10.84%, Samsung Electronics fell by 13.4%, SK Hynix dropped by 14.7%, and Japan's Nikkei 225 fell by about 4%.

Zcash activated the Ironwood NU6.3 network upgrade at block height 3,428,143, launching a new shielded pool to enhance network security and allow for the independent verification of ZEC circulating supply.After the upgrade, the original Orchard pool was restricted, and new funds are not allowed to enter. Existing funds must be migrated out through a turnstile before re-entering Ironwood, ensuring at the protocol level that pool expenditures do not exceed verifiable income. Ironwood is based on a revised protocol that has been formally verified and independently audited, aimed at preventing similar risks to the previous Orchard declarative vulnerabilities. Wallets supporting Ironwood (such as Zodl 3.8.0) have provided migration paths, allowing users to transfer funds from Orchard to the new pool without changing addresses.

Crypto KOL Ansem analyzed on platform X that a price alert has been set at $750 on Zcash, which has been consolidating for nearly a year. If it breaks to a new high, the next wave of this trend will be very strong. Ansem emphasized that there are currently no long positions held, but it would be a mistake not to enter a position if it breaks out.

Zcash has launched a new full node, Zakura, maintained by a team independent of the Zcash Foundation. It is released as a trimmed version of Zebra for fast synchronization and is compatible with the old zcashd client. This client will reach the end of its lifecycle. Zakura is one of the components of Zcash's scalability efforts, working alongside Project Tachyon and private information retrieval research, aiming to increase network throughput to Visa and Mastercard levels by reducing verification data and eliminating wallet performance bottlenecks.Zakura also supports the Ironwood (NU6.3) upgrade, which will be activated on July 28. This upgrade introduces a turnstile mechanism to limit withdrawals from the Orchard shielded pool and control the potential generation of counterfeit ZEC due to long-term soundness bugs.

The privacy network Dash announced on the X platform that the Orchard privacy pool has officially launched on its mainnet, with technology derived from the Zcash Orchard protocol, supporting 1-second confirmations and approximately 20 seconds for wallet synchronization.Dash stated that the privacy features for privacy stablecoins and other assets will be launched subsequently.

Zcash core developer Sean Bowe posted on the X platform that the block height for the Zcash Ironwood mainnet activation has been determined and marked. All major organizations have committed to activating the NU6.3 upgrade at block height 3,428,143, expected to occur at 8 PM Beijing time on July 28.According to previous news, this upgrade stems from the earlier Orchard pool vulnerability—this vulnerability could allow attackers to mint an unlimited amount of counterfeit ZEC, and due to the privacy attributes of the Orchard pool, the team could not determine whether any counterfeit ZEC was minted before the vulnerability was patched. The Ironwood upgrade will implement two core measures: first, it will introduce a new privacy pool using the Orchard protocol, while the old pool will be gradually phased out; second, it will add a control flag in the zero-knowledge proof circuit, which, when enabled, can disable the function of transferring to other users in the pool while retaining the change feature.