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Zcash jumps on first European ETP launch, but reverses on macro shock

Zcash’s momentum also picked up ahead of Grayscale’s scheduled 3-for-1 ZCSH share split on September 28, with split-adjusted trading starting September 30.

Reported · Written up by our desk · Market Structure

Zcash extended its rally to new highs after 21Shares launched the first European Zcash ETP, but the gain faded as broader risk sentiment deteriorated, according to Forexlive. The move came alongside renewed Middle East tensions and macro data that pushed markets toward a more hawkish interest-rate stance.

Forexlive said the crypto selloff accelerated after US Flash PMIs came in stronger than expected, contributing to a hawkish repricing and sending Treasury yields to new highs. Higher oil prices followed, which further weighed on cryptocurrencies.

The near-term direction for Zcash will depend mainly on rate expectations and whether the US-Iran situation de-escalates or re-escalates, Forexlive added. A continued de-escalation would likely pull oil lower and support risk assets, while a breakdown in talks could keep crude elevated and pressure Zcash.

Separately, Forexlive noted Grayscale’s Zcash ETF, ZCSH, is scheduled for a 3-for-1 share split on September 28, with split-adjusted trading beginning September 30, which it said could improve accessibility and retail participation.

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