What Zcash is
Zcash launched in 2016, built by Zooko Wilcox-O'Hearn with researchers including cryptographers from Johns Hopkins. It uses zero-knowledge proofs to allow shielded transactions that conceal sender, receiver and amount. Shielding is optional, which is the core design difference from Monero, where ring signatures and stealth addresses make privacy mandatory on every transaction.
Maximum supply is 21 million coins, the same cap as Bitcoin, on a comparable halving schedule. That shared monetary design is part of why ZEC gets compared to early Bitcoin rather than to other altcoins.
Why the ZEC/BTC ratio matters
Most coverage quotes ZEC in dollars, which during a broad crypto move tells you very little. The ratio strips that out: it shows whether Zcash is gaining ground on Bitcoin or simply rising alongside it. Through 2026 that number has moved a long way, and it is the cleaner measure of whether the privacy trade is actually working.
Switch the chart above to BTC/ZEC to see it directly. That view shows how many ZEC one Bitcoin buys, which almost nobody publishes. Because it is inverted, a falling line means Zcash is gaining on Bitcoin: fewer ZEC per Bitcoin means each ZEC is worth more. A flat line during a period when ZEC gained in dollar terms means the move was the whole market, not Zcash.
Where the ETF stands
Grayscale converted its Zcash Trust into a spot exchange-traded fund on NYSE Arca under the ticker ZCSH, with Coinbase Custody holding the coins. It is the first US-listed spot ETF giving direct exposure to a privacy coin, which matters because privacy assets were widely expected to face the most regulatory friction of any category.
Latest Zcash news
The five most recent stories. The full archive, with summaries and links to every original source, is on the Zcash news page.