Catenaa, Thursday, September 10, 2026- Zcash rose above $1,000 on Friday as inflows into Grayscale’s recently launched ZCSH ETF accelerated and miners added computing power to the network.
ZEC traded as high as $1,023, according to The Block, extending its monthly gain to about 94% and pushing its market capitalization toward $17 billion.
The move marked Zcash’s first sustained rise above $1,000, excluding a brief period of extreme volatility immediately after exchange trading began in 2016.
ZEC had traded near $200 as recently as March.
The rally followed Grayscale’s Aug. 25 conversion of its Zcash Trust into an exchange-traded fund listed on NYSE Arca under the ticker ZCSH.
The fund is the first US ETF offering direct exposure to ZEC.
Grayscale data showed ZCSH had attracted at least $34.4 million in net inflows since its launch.
That total may understate actual inflows because figures for Sept. 3 and Sept. 4 appeared incomplete.
The fund recorded its strongest single day Sept. 2, when investors added $12.6 million.
Demand has also increased on the mining side of the network.
ZcashInfo data showed Zcash computing power, measured as solrate, rising from about 25 GSol/s in late August to briefly above 30 GSol/s.
The increase indicates more mining capacity has entered the network as ZEC prices climbed.
However, greater competition among miners has reduced the revenue generated by individual machines despite the token’s price increase.
TheEnergyMag estimated that a Bitmain Antminer Z15 Pro was generating about $708 in gross revenue per megawatt-hour of electricity.
That was about 3% below the estimated $727 per MWh on Aug. 24, when ZEC was trading below $900.
The decline shows how rising network computing power can offset some of the benefit miners receive from higher token prices.
Zcash uses proof-of-work mining and was launched in 2016 with a focus on transaction privacy. The network allows users to make shielded transactions using cryptographic technology that can conceal transaction details.
Institutional access changed in August when Grayscale converted its existing Zcash Trust into ZCSH and moved the product to NYSE Arca.
The ETF gives investors brokerage-based exposure to ZEC without requiring them to directly hold or secure the cryptocurrency.
The combination of ETF inflows and rising mining activity has added two separate sources of demand around Zcash. ETF investors are increasing financial exposure, while miners are committing additional computing resources to the network.
ZEC’s move above $1,000 now places attention on whether those inflows and network activity can persist after the sharp price rise.
