Bitcoin recovers toward $79,000 as Zcash records a $500 million ETF haul

Bitcoin dropped below $78,000 on Tuesday, hitting $77,666 before buyers took it back to nearly $78,900 as of Asian morning hours on Wednesday

The round trip left the token little changed over 24 hours and just under 2% higher on the week. The money that moved went to zcash, where Grayscale said its Zcash ETF crossed $500 million in assets two weeks after listing on NYSE Arca.

The fund, trading under ZCSH, took in more than $70 million of cumulative inflows since its Aug. 25 debut on top of a $100 million investment from DCG International Investments

We’re proud to share The Zcash ETF $ZCSH has crossed $500M+ in AUM.

The only $ZEC fund in the world now holds over 550,000 $ZEC.

This milestone reflects continued investor conviction in Zcash and the demand for privacy in the digital asset ecosystem.

Full announcement… pic.twitter.com/mnaVl5d3tV

— The Zcash ETF 🛡️ (@ZcashETF) September 8, 2026

It now holds more than 550,000 $ZEC, or roughly 3% of the token’s 16.9 million circulating supply, pulled out of float in a fortnight. $ZEC traded past $1,180 on the day, up more than 4%, with about $1 billion in 24-hour volume against a $20 billion market value that has carried it to tenth largest in the past week.

BNB was the standout among the rest at about $755, up nearly 2%, while tron added more than 1% to roughly 34 cents and XRP gained about 1% to $1.42. Ether held near $2,490 and solana near $103, both close to unchanged. Dogecoin sat near 9 cents and hyperliquid’s HYPE edged up to almost $86. Total market value stood at about $2.8 trillion.

Brent crude pushed toward $100 a barrel after U.S. strikes on Iranian tankers near Kharg Island drew missile retaliation and Houthi attacks on Saudi refining capacity. Gold sat near $4,407 an ounce, roughly 30% above a year ago.

Those two have kept the 10-year Treasury yield near 4.8% and the two-year above 4.3%, with traders pricing about a 60% chance the Fed hikes next week, according to the CME FedWatch tool.

“The tape is now trading rates rather than anything crypto-specific,” said Jasper De Maere, OTC trader at Wintermute, said in an email. “We expect some more volatility as we move into the back of this week as the final macro data comes in before the FED’s rate decision. $75,000 and $82,000 remain the levels into the 15-16 FOMC.”

Thursday’s PPI and Friday’s CPI, where core is seen easing to 2.4%, are the last inputs before the Sept. 15-16 FOMC.

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Source: cryptonews.net