#zcash现货etf首现周度净流出9360万美元
Two weeks ago, it pulled in $98.2 million—ranked No. 1 across the entire crypto ETF market. This week, however, it saw a net outflow of $93.6 million—the Zcash ETF’s first-ever pattern of “only out, never in” 🦖
💡 群里更新数据解读
Grayscale’s Zcash spot ETF (ticker: ZCSH) has, since its launch in August, recorded its first weekly net outflow. This week, $93.6 million was redeemed. Meanwhile, over the same period, ZEC’s price slid from about $1,585 at the start of the week to around $1,300. Money flows and price—first time pointing in the same direction.
The details are even more straightforward: as of October 3, ZEC was trading around $1,308, down about 17.5% over the week, and retreating roughly 23% from its recent high of $1,690. According to SoSoValue data, this ETF hasn’t posted any single-day net inflow since September 22. The redemptions have been consecutive, not a one-off transaction 💰.
The contrast is stark: two weeks ago, ZCSH attracted $98.2 million in a single week—the largest inflow among all crypto ETFs that week. Going from inflow champion to the main outflow driver, the fund’s flow direction flipped by nearly $190 million. And remember, Zcash has gained over 20x this year—ETF inflows are one of the key fuels behind this leg of the rally. With the fuel being withdrawn in the opposite direction, the price naturally loses a pillar ⚠️.
But don’t put all the blame on the ETF. The report is clear: redemptions can explain some of the pressure, but they can’t explain the entire drop. What you really need to watch is the price itself: the $1,270 to $1,300 area below is where recent buyers have been stepping in. On the four-hour chart, the longer-term moving averages are also hovering around this level. As long as it holds, there’s reason to expect a rebound; if it breaks, the next reference point is $1,155—about 12% lower than the current price 📉.
Upward, short-term selling pressure is starting to ease. There may be a chance to bounce first toward $1,320 to $1,360. If it can reclaim and hold above $1,380 to $1,425, then the logic of challenging $1,500 in the latter part of October would be back on track. In one sentence: this round is “a two-legged story”—the privacy-coin narrative and ETF funds are walking on two legs, and now the funds’ leg is the first to feel weak.
Do you think this move in ZEC is a deep overextension correction, or that the market has truly topped? Let’s discuss in the comments.
Click your avatar to watch the livestream
Every day, I’ll take you through Zcash highlights—more than just reporting what happened, I’ll help you understand the underlying logic and opportunities 👀🚀
Two weeks ago, it pulled in $98.2 million—ranked No. 1 across the entire crypto ETF market. This week, however, it saw a net outflow of $93.6 million—the Zcash ETF’s first-ever pattern of “only out, never in” 🦖
💡 群里更新数据解读
Grayscale’s Zcash spot ETF (ticker: ZCSH) has, since its launch in August, recorded its first weekly net outflow. This week, $93.6 million was redeemed. Meanwhile, over the same period, ZEC’s price slid from about $1,585 at the start of the week to around $1,300. Money flows and price—first time pointing in the same direction.
The details are even more straightforward: as of October 3, ZEC was trading around $1,308, down about 17.5% over the week, and retreating roughly 23% from its recent high of $1,690. According to SoSoValue data, this ETF hasn’t posted any single-day net inflow since September 22. The redemptions have been consecutive, not a one-off transaction 💰.
The contrast is stark: two weeks ago, ZCSH attracted $98.2 million in a single week—the largest inflow among all crypto ETFs that week. Going from inflow champion to the main outflow driver, the fund’s flow direction flipped by nearly $190 million. And remember, Zcash has gained over 20x this year—ETF inflows are one of the key fuels behind this leg of the rally. With the fuel being withdrawn in the opposite direction, the price naturally loses a pillar ⚠️.
But don’t put all the blame on the ETF. The report is clear: redemptions can explain some of the pressure, but they can’t explain the entire drop. What you really need to watch is the price itself: the $1,270 to $1,300 area below is where recent buyers have been stepping in. On the four-hour chart, the longer-term moving averages are also hovering around this level. As long as it holds, there’s reason to expect a rebound; if it breaks, the next reference point is $1,155—about 12% lower than the current price 📉.
Upward, short-term selling pressure is starting to ease. There may be a chance to bounce first toward $1,320 to $1,360. If it can reclaim and hold above $1,380 to $1,425, then the logic of challenging $1,500 in the latter part of October would be back on track. In one sentence: this round is “a two-legged story”—the privacy-coin narrative and ETF funds are walking on two legs, and now the funds’ leg is the first to feel weak.
Do you think this move in ZEC is a deep overextension correction, or that the market has truly topped? Let’s discuss in the comments.
Click your avatar to watch the livestream
Every day, I’ll take you through Zcash highlights—more than just reporting what happened, I’ll help you understand the underlying logic and opportunities 👀🚀
