Zcash Breaks $1,000 as SEC Eyes Major Crypto and Trading Changes

Zcash was one of the crypto market’s standout performers this week, breaking above $1,000 as the launch of Grayscale’s spot Zcash ETF brought new institutional attention to ZEC. The rally has also pushed technical indicators into overbought territory, raising the prospect of near-term consolidation.

In traditional markets, the SEC scheduled a September 17 roundtable with major Wall Street firms to examine the practicalities of extending U.S. stock trading toward 24/7 access.

Meanwhile, SEC Chair Paul Atkins said he expects the Senate to vote on the CLARITY Act on September 15, potentially moving the long-awaited crypto market structure legislation closer to final approval.

1. Zcash breaks $1,000 as ETF demand fuels rally

Zcash surged above $1,000 amid renewed institutional interest following the launch of Grayscale’s spot Zcash ETF on NYSE Arca. ZEC has climbed roughly 573% from its cycle low near $150, while its market capitalization has risen toward $44.75 billion.

The rally remains technically strong, but momentum indicators suggest ZEC may be overheated in the short term. The daily RSI reached 78.09, with resistance around $1,050 and support near $900.

2. SEC prepares to discuss 24/7 stock trading

The SEC will hold a September 17 roundtable to examine the possibility of expanding U.S. stock trading beyond traditional market hours. Citi, BlackRock, Nasdaq, Charles Schwab, Jane Street, and the NYSE are among the major financial firms expected to participate.

Discussions will focus on issues including liquidity, cybersecurity, market surveillance, system reliability, and clearing and settlement. Wall Street is already moving in this direction, with Nasdaq planning an overnight trading session beginning December 6 and the NYSE pursuing similar initiatives.

3. Paul Atkins expects September vote on CLARITY Act

SEC Chair Paul Atkins said he expects the U.S. Senate to vote on the CLARITY Act on September 15 and expressed confidence that the crypto market structure bill could pass. Approval would move the legislation closer to the President’s desk after previous delays in the Senate.

The potential vote comes as the SEC advances its own crypto regulatory proposals. Atkins said those efforts are aligned with the anticipated legislation and could help provide greater regulatory clarity while encouraging crypto companies and developers to operate in the United States.