Zcash Jumps 20% Post Grayscale Privacy-Based ETF Move

The price of Zcash , a privacy-focused cryptocurrency, jumped 20% after Grayscale Investments announced plans to launch a privacy-based ETF (Exchange Traded Fund) . This price increase indicates the significant impact of Grayscale's move as well as the huge potential of crypto-based investments.

What is Getting to Know Zcash?

Zcash is a cryptocurrency that was launched in 2016. Like Bitcoin, Zcash is also a type of digital currency that operates based on blockchain technology. However, Zcash offers additional security and privacy features that Bitcoin does not.

Zcash has become a subject of interest for those concerned about privacy and anonymity in crypto transactions. However, it is important to remember that while Zcash offers greater privacy than Bitcoin, it has also attracted the attention of regulators and law enforcement agencies concerned about the potential for abuse in illegal activities.

The main feature that differentiates Zcash is a privacy technology called “zk-SNARKs” (Zero-Knowledge Succinct Non-Interactive Argument of Knowledge). This technology allows Zcash transactions to remain private and confidential while still allowing for proper verification by the Zcash network.

Some important points about Zcash that can be learned are:

1. Privacy

Zcash allows users to make transactions privately and untraceably. By using zk-SNARKs technology, details such as the amount transferred and the address of the sender, recipient remain confidential in the transaction.

2. Optional Transparency

Although Zcash provides privacy by default, users still have the option to choose to make transactions without privacy. It allows users to send transactions that are visible on the blockchain openly like Bitcoin.

3. Decentralisasi

Zcash, like Bitcoin, operates on a decentralized network. This means that there is no single authority that controls or regulates the network, instead it is managed by a distributed community of users and miners around the world.

4. Exploration

Zcash is also known for providing opportunities for researchers to explore and develop privacy technologies. This includes the development of stronger privacy solutions as well as the exploration of various privacy methods that can be applied outside the world of cryptocurrencies.

Check Today's Crypto Market:

Impact of Grayscale's Privacy ETF Filing

Zcash price jumped 20% after Grayscale applied to launch a privacy-based ETF. This shows the market's enthusiasm for crypto ETFs.

This Privacy ETF doesn't just focus on crypto, but also includes companies in the cybersecurity and privacy technology space. Uniquely, this ETF allocates 10% of its investment to the Grayscale Zcash Trust, which is a bridge between traditional stock investments and emerging digital assets.

Positive Response from Experts

Nate Geraci, co-founder of the ETF Institute, welcomed Grayscale's move into the ETF market. He thinks the Grayscale Zcash Trust is a smart decision. This ETF strategy allows investors to gain indirect exposure to digital assets through exchange-traded companies and products, thereby reducing direct volatility.

The Grayscale Privacy ETF offers a unique way for investors to get involved in the emerging privacy and cybersecurity industry. This further emphasizes the revolutionary impact of crypto in shaping the digital world.

The surge in Zcash prices following the announcement of the Grayscale Privacy ETF underscores the growing popularity of crypto-based ETFs. Starting from Bitcoin and Ethereum to now Privacy ETFs, these investment instruments are increasingly in demand.

Grayscale's innovative moves, especially the inclusion of the Grayscale Zcash Trust, reflect a strategy to bridge traditional and digital assets. The positive response from Nate Geraci reinforces the growing acceptance of ETFs in the crypto space. This trend signals a shift in investor preferences, who are starting to recognize the potential and ease of ETFs to participate in various aspects of the dynamic crypto market.

Also read How to Buy Crypto:

How to Buy ZEC on Bittime

After knowing what ZEC is and how it works, are you interested in buying and investing in this crypto asset? You can do it at Bittime. ZEC tokens are available on Bittime in  ZEC IDR pairings. 

 Below is a guide on how to buy ZEC tokens on Bittime. 

1. Register an account at Bittime using an active email. 
2. Complete the identity verification process.  
3. Once the account is verified, open the Bittime application.
4. Select the Market menu or click the graphic icon. 
5. Select IDR pairing to buy ZEC with Rupiah.
6. Click 'Buy'.
7. Select the order type to use. Limit orders, market orders and stop orders are available.
8. Enter the nominal rupiah to buy ZEC.
9. Click the 'Buy ZEC' button. 
10. A notification pop up will appear. Read it carefully and click 'Confirm'. 
11. Enter the six digit Transaction PIN.
12. The application will display a successful order notification. 

For a complete guide on how to buy ZEC, click  here .

Apart from buying ZEC tokens, you can also buy various crypto assets such as BTC, ETH, SOL, ADA, AVAX, DOGE, and many others. Don't forget, keep monitoring ORDI, BTC, ETH, SOL price chart movements today to find out crypto market trends  on Bittime. 

Crypto asset buying and selling transactions on Bittime are easy, safe and instant. Bittime is officially registered and supervised by Bappebti and Kominfo. 

Also Read: 

Zcash (ZEC): A Crypto Asset That Offers Advanced Privacy

The Importance of Understanding the Definition of T-Address (Zcash) in the Crypto World

What is Privacy Coin and How is it Different from Bitcoin?

DISCLAIMER : This article is informational in nature and is not an offer or solicitation to sell or buy any crypto assets. Trading crypto assets is a high-risk activity. Crypto asset prices are volatile, where prices can change significantly from time to time and Bittime is not responsible for changes in fluctuations in crypto asset exchange rates.