Zcash ETF Faces Pressure as $93.6 Million in Investor Cash Leaves the Fund

Grayscale's Zcash ETF has experienced a significant reversal of fortune, with investors withdrawing a net $93.6 million this week, according to data from SoSoValue. This marks the fund's first week of net outflows since its launch in August, and comes after a previous week where it attracted $98.2 million, leading crypto ETFs in weekly inflows.

As a result, the price of ZEC has fallen, trading near $1,308 as of October 3, down about 17.5% since the start of the week. It has lost roughly 23% from its recent peak near $1,690.

The fund has recorded no daily net inflows since September 22, suggesting that investors have been reluctant to buy the dip. Continued withdrawals could put further pressure on ZEC, although they do not explain the entire price decline.