Grayscale Zcash Trust trading volume doubles as ZEC privacy protection rate reaches a record high

According to The Block, Grayscale Zcash Trust had an average daily trading volume of about $1.7 million in April, doubling from the previous month and reaching the highest level since January, though still below the trading volumes seen in the last two months of 2025. The shielded supply of ZEC has reached a record high, with the privacy pool Orchard increasing from 1.92 million to 4.55 million ZEC over the past 12 months. Currently, about 30% of circulating ZEC is in a privacy-protected state, marking the highest historical proportion. The price of ZEC has risen 50% to $320 in the past 30 days but is still down about 35% since the start of the year. Grayscale has submitted a registration statement to the SEC, planning to convert the Zcash Trust into an ETF.