Zcash (ZEC) showed a classic “buy the rumor, sell the news” pattern during Grayscale’s trust-to-ETF conversion, according to Santiment data. ZEC climbed from about $509 on Aug. 18 to roughly $852 on Aug. 23, a gain of around 65%. Social mentions peaked at 232 on Aug. 22, about six times the August baseline, before falling back to normal levels by the ETF launch date on Aug. 25. Attention topped out one day before price, and interest had already faded before the ETF officially went live. ZEC has since retreated about 6% from its peak to around $796.