Grayscale's Zcash ETF Suffers Record Outflows
Grayscale's Zcash ETF, ZCSH, is facing its roughest week yet since its launch on August 25. The fund recorded net outflows of $93.56 million in a single week, following a strong start with cumulative net inflows reaching $271 million by mid-September.
The best stretch for the fund was the week ending September 18, when it saw $98.2 million in fresh money arrive. Trading activity during this period was also high, with ZCSH accounting for up to 32.5% of all spot crypto ETF turnover at its peak.
However, the fund's assets under management peaked at approximately $915-979 million in September before falling to around $751 million by early October. The fund still holds a significant portion of ZEC supply, roughly 3.5%, but this has put pressure on the token's price.