$ZEC On-chain monitoring data shows that whale Garrett Jin holds about 202,080 ZEC, worth roughly $320 million, and also holds a short position of 38,000 ZEC on Hyperliquid (valued at about $60 million). It is described as a potential partial hedge against spot holdings. The short position’s unrealized loss at one point reached $33.83 million, the liquidation price is $4,790, and it still has not been liquidated. This complex structure—where a spot whale holds a large amount of short hedges—means that if prices continue to rise, forced short covering would become an additional source of buying pressure.
As of the week of September 18, Grayscale’s Zcash spot ETF (ZCSH) recorded net inflows of $98.21 million, ranking first among 14 categories of U.S. crypto spot ETFs. This exceeds the combined net inflows of Bitcoin’s 12 ETFs by $6.21 million. During the same period, the Ethereum ETF saw net outflows of $140 million. The significant divergence in fund flows indicates that, under conditions of pressure on major coins, the privacy sector has become a target allocation for institutional capital. ZCSH holdings have increased to 596,268 ZEC, about 3.52% of the total circulating supply.
As of the week of September 18, Grayscale’s Zcash spot ETF (ZCSH) recorded net inflows of $98.21 million, ranking first among 14 categories of U.S. crypto spot ETFs. This exceeds the combined net inflows of Bitcoin’s 12 ETFs by $6.21 million. During the same period, the Ethereum ETF saw net outflows of $140 million. The significant divergence in fund flows indicates that, under conditions of pressure on major coins, the privacy sector has become a target allocation for institutional capital. ZCSH holdings have increased to 596,268 ZEC, about 3.52% of the total circulating supply.