ZEC Price Soars After Robinhood Listing and Institutional Moves

The price of Zcash (ZEC) has seen a significant increase following Robinhood's announcement to list the token on its platform.

ZEC rose by nearly 4% after the news, despite the broader crypto market experiencing a 2% decline.

This development is being seen as a positive step for privacy-focused assets, with Helius CEO Mert Mumtaz commenting that it's a 'step forward' for such assets.

The listing comes as Grayscale applies to convert its Zcash Trust into a spot ETF, which could attract between $500 million and $2 billion in institutional investment.