ChainCatcher report, according to a Santiment post, Grayscale has converted its Zcash trust, established in 2017, into a spot ETF, which began trading on NYSE Arca on August 25. The price of ZEC rose from approximately $509 on August 18 to about $852 on August 23, an increase of roughly 65%. Santiment noted that social mentions peaked at 232 on August 22, roughly six times the August baseline, then dropped back to baseline levels on the ETF’s launch day. Attention peaked the day before the price reached its high, and enthusiasm had already faded before the fund opened. As of this posting, ZEC is trading at approximately $796, down about 6% from its peak. Market interest was primarily concentrated during the “rumor” phase, and capital began exiting by the time the news was confirmed.
ZEC price drops 6% after spot ETF launch, social mentions peak before listing
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Summary
ZEC’s price dropped 6% after ETF inflows began on August 25, following a 65% increase from $509 to $852 between August 18 and 23. Santiment noted that social mentions peaked at 232 on August 22—six times the monthly average—before declining on the ETF launch day. Investor attention waned prior to the ETF’s opening, with ZEC trading at $796 at the time of the report. No ETF outflows were observed, but trading activity shifted after listing.
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