Grayscale Files First ZEC Spot ETF Application in US for 2025 - Privacy Coins Enter Mainstream
Wall Street's crypto embrace just took a radical turn toward privacy.
GRAYSCALE BREAKS NEW GROUND
The digital asset manager just dropped the first Zcash spot ETF filing with US regulators—potentially opening floodgates for privacy-focused cryptocurrencies in traditional finance.
MAINSTREAM MEETS ANONYMITY
ZEC's shielded transactions could soon trade alongside Bitcoin and Ethereum in retirement accounts. The filing signals institutional willingness to navigate regulatory hurdles for assets that prioritize user privacy.
REGULATORY BATTLE AHEAD
SEC scrutiny will be intense—privacy coins face tougher opposition than vanilla crypto ETFs. Grayscale's move tests whether financial anonymity can coexist with compliance requirements.
MARKET IMPLICATIONS
Approval would validate privacy as a legitimate financial feature rather than a regulatory red flag. Other privacy coins like Monero and Dash watch closely—their futures could hinge on this precedent.
Because nothing says 'mainstream adoption' like trying to convince regulators that financial privacy isn't inherently suspicious—onward toward transparent anonymity.
The crypto market is under pressure again as the total market cap has dropped below $3 trillion, slipping to roughly $2.95 trillion. The downturn has shaken sentiment across major assets, with Bitcoin, Ethereum and XRP all trading sharply lower after a sudden wave of volatility.
Bitcoin, Ethereum and XRP Slide as Selling Intensifies
Bitcoin has fallen to around $86,744 after losing more than 4% in the last 24 hours. Its market capitalization now stands near $1.73 trillion as trading activity spikes during the sell-off. ethereum is down to approximately $2,841, extending a 5% weekly decline. XRP has slipped to about $2.06 after dropping more than 6% this week.
BNB has dropped to $835, losing around 4.4% on the week. Solana is trading near $127, down more than 6% over the last 7 days. Dogecoin is also feeling the impact, falling to $0.1385 after dropping nearly 7% this week. Cardano (ADA) has slipped to $0.3899, now down 6% over the same period.
Data shows that almost $400 million worth of Leveraged long positions were liquidated within the last hour. The wipeout occurred with no major news catalyst, showing how fragile current market liquidity is.
This type of MOVE has happened repeatedly throughout the year. Late Friday and Sunday sessions often see sharp drops because market liquidity thins out, and price swings become more aggressive. Bitcoin’s sudden $4,000 decline within minutes today is a clear example of this pattern.
Thin Liquidity Is Fueling the Crash
Analysts warn that liquidity remains the main stress point for crypto right now. With fewer active market makers during weekend hours, order books become thinner and more sensitive to sell pressure.
At the same time, leverage across futures markets is sitting NEAR record highs. When prices dip, highly leveraged positions are force-liquidated. Each liquidation adds more sell pressure, creating a chain reaction. A small move quickly turns into a cascade, dragging the entire market lower.
Not a Fundamental Breakdown, Analysts Say
Despite the severity of the drop, experts say that this decline does not appear to be driven by negative fundamentals. There is no major regulatory update, no macroeconomic shock and no industry-specific event causing the crash.
Instead, this looks like another structural liquidity flush triggered by excessive leverage and thin trading conditions. Volatility is expected to remain high through the weekend, but many analysts say the market could stabilize once liquidity returns.
