An ETF on $ZEC saw a weekly outflow of $93.6 million—can it really retain buy-side demand after listing?
On October 3, BeInCrypto cited SoSoValue data, saying Grayscale’s ZCSH first recorded a weekly net outflow. Two weeks earlier, it was still a net inflow of $98.2 million.
On October 4 at 13:37, Binance ZEC perpetuals were trading at $1,319, roughly flat over 24 hours. Looking only at today’s small fluctuations would miss the pullback from the previous week.
I don’t buy the idea that “an ETF means institutions will provide long-term backing.” Once listing opens the gateway, the incoming money can also leave. The net outflow records the subscription/redemption direction; it can’t be directly equated to fund losses, nor can it be used to explain the entire decline as investors withdrawing. If the price rebounds in the next round, I’d rather verify whether ETF subscriptions and redemptions have improved as well.
Open $ZEC to check the daily chart and trading volume—whether this rebound has volume. Verify first, then make a judgment.
$ZEC #Zcash spot ETF first shows a weekly net outflow of $93.6 million
On October 3, BeInCrypto cited SoSoValue data, saying Grayscale’s ZCSH first recorded a weekly net outflow. Two weeks earlier, it was still a net inflow of $98.2 million.
On October 4 at 13:37, Binance ZEC perpetuals were trading at $1,319, roughly flat over 24 hours. Looking only at today’s small fluctuations would miss the pullback from the previous week.
I don’t buy the idea that “an ETF means institutions will provide long-term backing.” Once listing opens the gateway, the incoming money can also leave. The net outflow records the subscription/redemption direction; it can’t be directly equated to fund losses, nor can it be used to explain the entire decline as investors withdrawing. If the price rebounds in the next round, I’d rather verify whether ETF subscriptions and redemptions have improved as well.
Open $ZEC to check the daily chart and trading volume—whether this rebound has volume. Verify first, then make a judgment.
$ZEC #Zcash spot ETF first shows a weekly net outflow of $93.6 million