According to The Block, Grayscale’s Zcash Trust had an average daily trading volume of approximately $1.7 million in April, doubling from the previous month and reaching its highest level since January, though still below the trading volumes seen in the last two months of 2025. The shielded supply of ZEC hit a new high, with the Orchard privacy pool increasing from 1.92 million to 4.55 million ZEC over the past 12 months—currently, about 30% of circulating ZEC is in privacy-protected form, the highest proportion on record. ZEC’s price rose 50% over the past 30 days to $320, but is down approximately 35% year-to-date. Grayscale has filed a registration statement with the SEC to convert the Zcash Trust into an ETF.
Grayscale Zcash Trust volume doubles, ZEC privacy ratio reaches record high
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Summary
Grayscale Zcash Trust’s daily trading volume reached $1.7 million in April, doubling from March and marking the highest level since January 2026. Over the past year, ZEC’s privacy pool, Orchard, grew from 1.92 million to 4.55 million, with 30% of circulating ZEC now shielded. Transaction volume and price surged 50% over 30 days to $320, though they are down 35% year-to-date. Grayscale filed with the SEC to convert the Zcash Trust into an ETF.
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