Zcash: Is ZEC crypto’s $1,600 rejection more than just a pullback?

On the 29th of September, Nasdaq-listed DeFi Technologies Inc., the publicly traded financial technology company aiming to bridge the gap between traditional markets and decentralized finance (DeFi), announced that its investment product arm, Valour, has launched a ZCash [ZEC] exchange-traded product.

This development aligns with DeFi Technologies’ expansion of its Valour ETPs in Europe. Valour ZCash SEK ETP began trading on Sweden’s Spotlight Stock Market on Tuesday with a 1.9% management fee.

Recently, 21Shares announced that they were launching Europe’s first physically backed Zcash ETP on both Euronext Paris and Amsterdam. On the 24th of September, it was reported that the Grayscale ZCash ETF (ZCSH) reached $1 billion in assets under management.

The impact on ZEC crypto price action

On the weekly chart, ZEC crypto has a firmly bullish bias. The price was trading at highs not seen in six years, with the cautionary note that the all-time high of $5,941 that CoinMarketCap reports for ZCash came when the trading volume was relatively low.

The RSI on the weekly chart was not as overextended as the September-October 2025 levels, but has strayed above 70 over the past month. The CMF was at +0.14 as of writing, well above the +0.05 threshold that demarcates strong capital inflows.