Zcash Surpasses $1,000 as Grayscale ETF Inflows Surge Zcash’s $ZEC token surpassed the $1,000 mark for the first time since excluding the volatile days immediately following its initial listing in late 2016, driven by strong ETF inflows and expanded mining activity. ZEC reached as high as $1,023 on Friday, pushing its one-month gain to approximately 94% and bringing its market capitalization close to $17 billion. In March, ZEC traded around $200. The rally followed Grayscale’s launch of the Zcash ETF on August 25, trading on NYSE Arca under the ticker ZCSH. This is the first U.S.-listed ETF offering direct exposure to ZEC. Since its launch, ZCSH has attracted at least $34.4 million in net inflows, with September 2 marking its strongest day at $12.6 million. Total actual inflows may be slightly higher, as data for September 3 and 4 appears incomplete. Interest has also extended to Zcash mining activity. The network’s hash rate rose from around 25 GSol/s at the end of August to over 30 GSol/s in a short period. However, increased mining competition is pressuring miner profitability. The Bitmain Antminer Z15 Pro is now estimated to generate approximately $708 in gross revenue per MWh of electricity, down about 3% from $727/MWh on August 24, despite the significant rise in ZEC’s price.