Grayscale Zcash ETF sees first weekly outflow since launch
The Grayscale Zcash ETF, which trades under the ticker ZCSH on NYSE Arca, experienced its first weekly outflow since its launch on August 25, 2026. Investors pulled out a net $93.56 million in the week ending October 5, 2026. This marks a significant shift from the consistent inflows seen in the six weeks prior.
Despite this outflow, the price of Zcash (ZEC) remains strong over the longer term. On October 6, 2026, ZEC was trading at $1,340.09, down 7.36% from the previous week but still up 33.89% over the past month. This demonstrates the volatility and the need to consider both short-term and long-term trends when evaluating the cryptocurrency's performance.
The outflow was not the result of a single large sale but rather a series of smaller redemptions spread over several trading days. The heaviest single day of outflows was September 30, 2026, with $30.25 million withdrawn. This date aligns with the end of the quarter, a common time for fund managers to adjust their positions.
The fund's assets stand at around $751 million, but only $212.56 million of that is from net inflows since launch. The remaining $538 million is due to the price appreciation of the ZEC already held in the fund. This structure makes the fund sensitive to price declines, as both the asset value and share redemptions can reduce the fund's size.
In Europe, Zcash holders have access to different products. The 21Shares Zcash ETP (ticker ZCASH) is listed on Euronext Amsterdam and Paris, while Valour offers a Zcash ETP on Sweden's Spotlight Stock Market. These products have different fee structures and are not directly affected by the outflows in the Grayscale Zcash ETF.