Grayscale’s Zcash ETF sheds $93.56 million in a single week
Zcash’s ETF posted its first week of net outflows after launching in August, with withdrawals totaling about $93.6 million. That followed two weeks earlier, when the same fund drew $98.2 million in weekly inflows and led crypto ETFs in that category.
What this rests on
What it means
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This change is visible to people who track Zcash and crypto ETFs, because the fund shifted from strong weekly inflows to net withdrawals in a short span. It also matters for holders and potential users of the ETF because the fund’s weekly flow pattern changed after its August launch, which is now part of the public record.
Before this week, the fund had just posted a large inflow week and had been the top crypto ETF by weekly inflows. Now the practical difference is that the fund is no longer showing the same recent demand pattern, while the launch itself and the ETF structure remain the same.
Market reaction
The move was larger before the first headline than after. That is an observation, not an explanation: the market also moves on things nobody publishes.
How the story was built
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Has this happened before?
| When | What happened | Figure |
|---|---|---|
| 20 days ago | Bitcoin ETFs turn positive for 2026 with $2.4 billion weekly inflow, their largest since October event | 2 actors in common · 13 news media |
| 22 days ago | Grayscale’s Zcash ETF Reaches $1 Billion as Inflows Stay Below 30% event | 2 actors in common · 2 news media |
| 18 days ago | Valour launches Europe’s first Zcash ETP, undercutting 21Shares on fees event | 1 actors in common · 2 news media |
| 18 days ago | Bitcoin ETF Inflows Continue with BTC Struggling to Break Above $84,000 event | 1 actors in common · 3 news media |