POPA ReconZcash institutional setup: $9.5B market cap, 30% of supply off-market, first privacy ETF decision pending in Q2
Zcash institutional setup: $9.5B market cap, 30% of supply off-market, first privacy ETF decision pending in Q2 $ZEC has quietly become the only privacy thesis institutions can legally own and the cap table over the last 90 days makes that the entire trade. Zcash is up 70% this week and ~1000% from 2024 lows. Market cap sits at $9.5B, price touched $600, and the November ATH of $748 feels like the next target. Public institutional positioning since February: • Multicoin Capital: accumulating since February • Cypherpunk Technologies: 1.78% of total supply (~$99M), Winklevoss-backed, targetin…
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