Zcash (ZEC) price is up by 20% today, September 4, to trade at $1,001 at the time of writing. These gains come barely two weeks after Grayscale launched a ZEC ETF that has already amassed more than $400 million in net assets. In a recent post on X, Grayscale opined that Zcash is in a new phase of price discovery because investors are beginning to view ZEC as hard money because its supply is capped at 21 million coins.