Grayscale Files for Spot Zcash ETF, ZEC Price Could Cross $600
Grayscale filed for a spot Zcash ETF, potentially boosting ZEC price toward $600 amid current market stagnation.Summary
Despite recent struggles and persistent outflows indicated by the Chaikin Money Flow (CMF), Zcash (ZEC) may see renewed interest following Grayscale's submission of the ZCSH Form S-3, a key step toward launching a spot Zcash exchange-traded product (ETP) in the US. If approved, this institutional access could boost demand, potentially driving the price toward the $600 resistance level. On-chain data suggests that a modest upward move could trigger significant short liquidations, estimated at $19.43 million, leading to a rapid surge if inflows return. Currently trading around $543, ZEC needs to break above $600 to target $700; otherwise, it risks consolidating between $520 and $600, with a breakdown potentially leading to $442.
(Source：BeInCrypto)