ZEC secured an SEC roundtable seat on December 15, while Grayscale's ETF filing landed on November 26—regulatory tailwinds picking up. The Winklevoss twins are sitting on major holdings but need another 556,000 ZEC to reach their 5% supply target, which translates to roughly $249 million in guaranteed demand at spot rates. That kind of accumulation pressure doesn't go unnoticed. Meanwhile, Monero faced 73 exchange delistings this year, painting a very different picture. ZEC caught a break when it got relisted on a major exchange, signaling renewed institutional interest in the privacy coin space despite regulatory headwinds elsewhere.