Zcash ETF sees $93.56M outflows as ZEC price drops 21% after September rally
The Zcash U.S.-listed spot ETF (ZCSH) experienced $93.56 million in net outflows for the week ending Oct. 2, marking its first negative week since late August. This outflow coincided with ZEC's price falling about 21% from a late-September peak above $1,650 to around $1,300 by early October. The ETF had previously seen strong inflows following its August launch and a price rally in September. Grayscale completed a three-for-one share split on Sept. 30, and Digital Currency Group invested roughly $100 million earlier in September. The price decline and ETF withdrawals reflect a combination of profit-taking, reduced leverage, and changing demand, rather than solely ETF redemptions. Meanwhile, Zcash is preparing for a network upgrade expected in November, which may impact future token dynamics.
The Zcash U.S.-listed spot ETF (ZCSH) experienced $93.56 million in net outflows for the week ending Oct. 2, marking its first negative week since late August. This outflow coincided with ZEC's price falling about 21% from a late-September peak above $1,650 to around $1,300 by early October. The ETF had previously seen strong inflows following its August launch and a price rally in September. Grayscale completed a three-for-one share split on Sept. 30, and Digital Currency Group invested roughly $100 million earlier in September. The price decline and ETF withdrawals reflect a combination of profit-taking, reduced leverage, and changing demand, rather than solely ETF redemptions. Meanwhile, Zcash is preparing for a network upgrade expected in November, which may impact future token dynamics.
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