Zcash (ZEC) reached the $1,000 range, marking its first such level in about a decade when the extreme volatility immediately after its 2016 exchange listing is excluded. The rally was attributed to fund inflows into Grayscale’s spot ETF and increased participation in ZEC mining, which drove a sharp rise in hashrate, the computing power securing the network. The ETF began trading on Aug. 25 on the New York Stock Exchange’s Arca platform after being created through the conversion of Grayscale’s trust. It is the first U.S. ETF offering direct investment exposure to ZEC, according to CoinGecko.