Crypto

Zcash breaks $1,600 after new ETP debuts in Europe, but rally started earlier

Zcash (ZEC) rose above $1,600 as a new exchange-traded product launched in Europe expanded investor access. 21Shares listed a physical-backed Zcash ETP on Euronext Paris and Amsterdam under the ticker ZCASH. The product charges a 2.5 percent annual fee and uses BitGo as custodian. CryptoSlate reported Zcash had already been trading around $1,540 before the listing, with interest in a separately launched Grayscale Zcash ETF cited as a driver.

Crypto

Grayscale sets XRP target weight at 26 percent in Next Gen model portfolio without bitcoin

Asset manager Grayscale set a 26.11 percent target weight for XRP in its Next Gen strategy, which excludes bitcoin, within its new model portfolio lineup for advisory firms. The company launched four strategies that use market-cap weighting and rebalance quarterly. In the Next Gen allocation as of Aug. 31, Ethereum had the largest share at 42.34 percent. In the Leaders strategy including bitcoin, XRP’s weight fell to 11.92 percent.