Zcash (ZEC) has climbed above $814 for the first time in eight years, lifting its market capitalization to $13.74 billion and fully reversing a June slide to about $250 tied to a vulnerability in the Orchard pool. The rally is being driven by the approaching NYSE Arca debut of Grayscale’s spot Zcash ETF under ticker ZCSH, expected around August 25, 2026, after Grayscale submitted final SEC documents; the vehicle holds up to about 393,000 ZEC worth more than $260 million, with Coinbase as custodian. The listing has revived debate over financial privacy and whether Zcash could eventually “flip” XRP by market cap—XRP stands near $93.45 billion at about $1.49—while medium-term expectations among some participants have shifted toward $2,500 and higher amid ETF access and quantum-resistant upgrade plans. Analysts still treat a full XRP overtake as a long-term mathematical benchmark, with early ZCSH volumes seen as the real test of institutional demand.