On Tuesday morning, Grayscale launched the first ETF to offer direct exposure to Zcash, the privacy-focused cryptocurrency.

Zcash jumped over 40% to $805.52 as Grayscale filed to convert its Zcash Trust into an ETF on NYSE Arca, reigniting institutional interest in

CoinGlass recorded nearly $10 billion in 24-hour futures volume and $1.76 billion in open interest, indicating that derivatives made up much of the trading.