On September 29, DeFi Technologies Inc. announced the launch of an exchange-traded product (ETP) on ZCash (ZEC). This move is part of the expansion of Valour's ETP lineup in the European market. The Valour ZCash SEK ETP began trading on the Swedish Spotlight exchange on Tuesday with a management fee of 1.9%. Earlier, 21Shares announced the launch of the first physically-backed ETP on ZCash in Europe, which is set to trade on Euronext Paris and in Amsterdam. On September 24, it became known that the Grayscale ZCash ETF (ZCSH) reached $1 billion in assets under management.
On the weekly chart, ZEC maintains a clear bullish sentiment: the price is trading at highs not seen in six years. The caveat is that the historical high of $5,941, as reported by CoinMarketCap, was reached with relatively low trading volume. The RSI on the weekly chart is not as overbought as it was in September-October 2025, but it has remained above 70 for the past month. The CMF at the time of writing was +0.14, significantly above the threshold of +0.05 that separates strong capital inflow. However, the OBV looks less convincing: it has been in an upward trend since summer but has not approached last year's highs.
At first glance, ZEC is one of the best large crypto assets since mid-August: a nearly 200% increase from $480 to $1,400, despite a recent pullback from $1,600. However, the momentum around the $1,600 mark has cooled. Moreover, the price has fallen below the 4-hour higher low at $1,427, which previously supported the internal structure. That same level was retested as resistance, and there remains a risk of a deeper pullback.
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