ZEC was down 9.63% over 24 hours at 3:37 p.m. ET on Sept.
Grayscale's Zcash ETF will execute a 3-for-1 forward share split after attracting more than $233 million in cumulative inflows since its August launch. Shareholders of record on September 28 receive two additional shares for each share owned, with split-adjusted trading starting September 30.
Zcash traded at $1,492 on Binance spot ZEC/USDT at 3:07 p.m. ET on Sept.
ZEC was down 4.36% over 24 hours, while long liquidations totaled $480,000 across three major exchanges in the same hour.
The Hyperliquid order was priced about $30, or 2%, below the market price at the time it was placed.
Midnight founder Charles Hoskinson expects the privacy network to surpass Zcash, although NIGHT still faces a large valuation gap and key price resistance.
Grayscale's Zcash ETF will complete a 3-for-1 split after attracting more than $233 million in inflows since its August launch.
ZEC was down 3.10% over 24 hours as of 9:07 a.m. ET on Sept.
The address bought about 8,017 ZEC, lifting its long position to roughly 18,400 tokens while carrying an unrealized loss of about $1.31 million.
Grayscale has submitted paperwork with the US Securities and Exchange Commission (SEC) for a new exchange-traded fund designed to generate recurring cash distributions tied to Zcash without holding the privacy-focused cryptocurrency itself.
Zcash co-founder has unveiled an ambitious price target for the private cryptocurrency by the end of the current calendar year.
Grayscale's proposed options fund targets two-week distributions as its existing ZCSH product approaches $1 billion in assets.