- Zcash leads Coinbase searches with 52,000 queries, surpassing BTC and XRP during a strong multi-week price advance.
- Grayscale Zcash Trust shows a $52.20 NAV against a $40.51 market price, showing continued NAV and price divergence.
- Zcash’s NU6.1 upgrade on Nov. 24 introduces new block reward allocations for community grants and coinholder-directed funding.
Grayscale Zcash Trust continues to gain strength as Zcash extends a sharp multi-week rise and gains attention across major trading platforms. The Trust offers exposure to ZEC in a security format and reports data that shows continued gaps between its market price and net asset value.
As of Nov. 17, the Trust showed a NAV of $52.20 per share against a market price of $40.51, while its ZEC holdings per share stood at 0.08173237. This contrast comes as Zcash posts steep gains across several timeframes and climbs Coinbase’s search rankings, according to data shared by Thor Torrens. These comes days before a scheduled network upgrade, creating a busy period for the asset and the product built around it.
Trust Metrics and Market Price
The Trust holds $252.08 million in assets and carries a 2.50% expense ratio. Its shares trade on OTC Markets under the ticker ZCSH, where pricing continues to move independently of underlying NAV.
This pattern follows years of premiums and discounts, often substantial, according to the product’s disclosures. Notably, shares remain available through traditional brokerage accounts, offering market-driven access to ZEC exposure.
Zcash Search Rankings and Market Performance
Zcash recently topped Coinbase’s search list, according to the screenshot shared by Torrens. The asset registered 52,000 searches, outpacing BTC and XRP, which saw 41,000 and 39,000 searches. This shift follows an October stretch where XRP held the lead during heightened ETF discussions.
At press time, ZEC was trading at $555 and holds a market valuation of $11.3 billion. The asset is up 14.19% in seven days, 215% in 30 days, and 1,498% over the past year. Its rally briefly paused after reaching $744 on Nov. 7 but regained pace, marking five straight daily advances during a broader market downturn.
Upgrade NU6.1 Introduces New Funding Structure
Zcash prepares for its eighth major upgrade, NU6.1, set for Nov. 24 at block height 3,146,400. Electric Coin Co. and the Zcash Foundation support the rollout. The upgrade introduces a funding model that assigns 8% of block rewards to ZCG for community grants. Additionally, 12% will flow into a Coinholder-Controlled Fund seeded by the Deferred Dev Fund Lockbox.
