Grayscale’s Zcash ETF Pulls In $41 Million Amid Wider Crypto Fund Volatility
Grayscale’s Zcash ETF attracted $41.1 million in weekly inflows while major Bitcoin and Ethereum funds experienced turbulent market conditions.
Grayscale’s Zcash ETF Pulls In $41 Million Amid Wider Crypto Fund Volatility
Grayscale's Zcash ETF attracted $41.1 million in weekly inflows while major Bitcoin and Ethereum funds experienced turbulent market conditions.
Grayscale Zcash ETF Sees Strong Inflows
Grayscale's Zcash ETF, trading under the ticker ZCSH, recorded its strongest weekly performance since mid-September during the week ending October 23, 2026, according to Crypto Briefing. The privacy-focused product brought in $41.1 million in net inflows, reversing a three-week outflow streak that had seen the fund shed a combined $143 million.
The weekly momentum developed gradually following a negative start. ZCSH logged $10.4 million in outflows on October 19 before turning positive with $1.6 million on October 20. Midweek sessions brought stronger buying, with $15.2 million on October 21 and $14.2 million on October 22, culminating in a peak of $20.5 million on October 23.
Broader Crypto ETF Performance Diverges
While the Zcash product attracted capital, the wider digital asset fund market experienced mixed results. US spot Bitcoin ETFs finished the week with $301.2 million in net inflows, breaking a two-week losing streak, though they endured substantial volatility that included over $500 million in outflows across a two-day span.
Ethereum investment products did not experience a similar recovery. Spot Ether ETFs ended the same weekly period with losses totaling $220.7 million, highlighting a divergence in investor demand across different digital asset vehicles.
Assets Under Management and Market Context
Launched on NYSE Arca on August 25, 2026, as the first US spot Zcash product, ZCSH has accumulated cumulative net inflows ranging between $177 million and $270 million. By late October 2026, the fund's assets under management reached approximately $686 million, holding between 537,954 and 560,771 ZEC, which accounts for more than 3% of the token's circulating supply.
During the week of inflows, ZEC traded near or above $1,200, representing a 7% increase. Analysts note that the steady inflows create persistent buying pressure as the fund acquires tokens to back new shares, though concentrated holdings in a single vehicle could also amplify future market swings if outflows resume.
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