Zcash surges 34% on Grayscale ETF filing as Bitcoin nears $80,000 on record ETF inflows

Two forces drove today's broad rally: a macro liquidity shift and a wave of institutional ETF activity. On the macro side, a U.S. Treasury debt buyback policy adjustment — a technical change to how the government manages its outstanding debt — injected conditions favorable to risk assets. Bitcoin responded with a multi-day surge that brought it within striking distance of $80,000. That macro tailwind was amplified by the largest single-day inflows into Bitcoin spot ETFs since May, with BlackRock alone capturing 83% of the total. When institutional money moves into Bitcoin at that scale, it tends to lift the broader market. Altcoins followed, but two stood out for asset-specific reasons. XRP jumped 16.5% after clearing its 'death cross' — a technical pattern (formed when a short-term moving average falls below a long-term one) that had been signaling bearish momentum. Its erasure, combined with ongoing optimism around Ripple's regulatory situation in the U.S., drew fresh buyers. Zcash's 34% surge was the day's most dramatic move: Grayscale filed for a spot Zcash ETF, the same playbook that preceded Bitcoin's ETF approval in January 2024. Traders rotated into ZEC on the prospect that a similar institutional wrapper could follow for the privacy coin. Hyperliquid gained 9.7%, Dogecoin 11.4%, and Chainlink 8.6% — all riding the broader altcoin momentum rather than any single catalyst.

• –Nomura-backed Laser Digital received Japan's first new crypto business approval in four years, signaling a meaningful shift in regulatory openness from one of the world's largest financial markets.
• –Bitcoin's rally toward $80,000 has come largely within days, with a U.S. Treasury buyback adjustment cited as the key macro trigger — a reminder that debt management policy can move crypto markets.
• –BlackRock captured 83% of Bitcoin ETF inflows on the day, extending its dominance of the institutional crypto fund market.