Zcash surges over 6,300% from 2024 lows as first US spot ETF fuels institutional frenzy

Zcash just pulled off one of the most violent comebacks in crypto history. The privacy-focused token, which was languishing around $16 during its 2024 lows, blasted past $1,000 in early September 2026, a gain exceeding 6,300% that pushed its market capitalization to nearly $17B. For context, that market cap briefly surpassed Dogecoin’s, a coin with roughly ten times the name recognition and a hundred times the meme energy. The ETF that changed everything The single biggest catalyst was Grayscale’s launch of ZCSH, the first US spot Zcash ETF, on August 25, 2026. The product gave institutional investors a regulated vehicle to gain exposure to ZEC without touching the token directly, and the market response was immediate. ZEC hit an all-time high range between $1,025 and $1,046 in the days following the ETF debut. That price level represents the token’s most significant milestone in nearly a decade of existence, eclipsing its previous peaks from the speculative mania of 2017-2018. Prominent crypto investors have piled on the narrative. Barry Silbert, whose Digital Currency Group is Grayscale’s parent company, has been a longtime Zcash advocate. Naval Ravikant has also been cited among...