#zcash现货etf首现周度净流出9360万美元
Privacy coin starts spending money to buy “legal identity”: Zcash’s lobbying organization completed its U.S. congressional registration on October 1, and the entire group only has one lobbyist; meanwhile, its spot ETF saw net outflows of $93.6 million last week—its first weekly outflow since launch.🦖
🚨 行情变了群里说
First, who is this lobbyist?
There is only one person registered on the roster—Executive Director Divij Pandya. The issues they plan to lobby for are stated very clearly: the “Clarity Act” for digital asset markets, plus two proposed digital-asset tax measures. In other words, during the most critical window for U.S. crypto legislation, Zcash wants a seat to answer the question: can privacy coins legally exist?
This organization isn’t new. It’s called PGPZ. It was spun up by Electric Coin Co. in 2022 as Pretty Good Policy for Crypto. In 2023, it held a congressional crypto technical briefing, and only this year—in June—did it officially become independent. In August, the Zcash community funded it with $750,000 to support its first year of operations.
But the money signals the opposite. Grayscale’s Zcash spot ETF (ticker ZCSH) had net outflows of $93.56 million last week, the first time this product has had a weekly “bleed” since it was launched; ZEC has also pulled back about 23% from its earlier highs, slipping into a technical bear market.📉
Put both sides together, and the contrast is striking: a $750,000 lobbyist budget versus $93.6 million in net outflows—over a hundredfold difference. PGPZ founder Paul Brigner (also ZODL’s Chief Policy Officer) puts it plainly: policymakers are making decisions, and those decisions determine whether “privacy digital cash can still exist and whether it can be used legally.” Translate that—this isn’t PR; it’s survival.⚖️
My take: privacy coins are stuck in an awkward spot right now. Technically, the story is still there (Zcash plans to launch the NU7 upgrade in November, cutting block time to 25 seconds), but on the compliance front they’re getting hit on all sides, and institutional money is withdrawing first. Spending $750,000 to hire lobbyists buys “legitimacy insurance,” but the money inside the ETF won’t listen to the story—it steps out first. Political patience and financial impatience are fighting on the same coin.
Do you think privacy coins are being wrongly targeted by regulation, or that they simply shouldn’t have been made into ETFs in the first place? Let’s discuss in the comments.
Click the avatar to watch the live stream
Every day, I’ll take you through privacy-coin and crypto-regulation hotspots—not just what’s happening in the news, but also the logic and opportunities behind it 👀🚀
Privacy coin starts spending money to buy “legal identity”: Zcash’s lobbying organization completed its U.S. congressional registration on October 1, and the entire group only has one lobbyist; meanwhile, its spot ETF saw net outflows of $93.6 million last week—its first weekly outflow since launch.🦖
🚨 行情变了群里说
First, who is this lobbyist?
There is only one person registered on the roster—Executive Director Divij Pandya. The issues they plan to lobby for are stated very clearly: the “Clarity Act” for digital asset markets, plus two proposed digital-asset tax measures. In other words, during the most critical window for U.S. crypto legislation, Zcash wants a seat to answer the question: can privacy coins legally exist?
This organization isn’t new. It’s called PGPZ. It was spun up by Electric Coin Co. in 2022 as Pretty Good Policy for Crypto. In 2023, it held a congressional crypto technical briefing, and only this year—in June—did it officially become independent. In August, the Zcash community funded it with $750,000 to support its first year of operations.
But the money signals the opposite. Grayscale’s Zcash spot ETF (ticker ZCSH) had net outflows of $93.56 million last week, the first time this product has had a weekly “bleed” since it was launched; ZEC has also pulled back about 23% from its earlier highs, slipping into a technical bear market.📉
Put both sides together, and the contrast is striking: a $750,000 lobbyist budget versus $93.6 million in net outflows—over a hundredfold difference. PGPZ founder Paul Brigner (also ZODL’s Chief Policy Officer) puts it plainly: policymakers are making decisions, and those decisions determine whether “privacy digital cash can still exist and whether it can be used legally.” Translate that—this isn’t PR; it’s survival.⚖️
My take: privacy coins are stuck in an awkward spot right now. Technically, the story is still there (Zcash plans to launch the NU7 upgrade in November, cutting block time to 25 seconds), but on the compliance front they’re getting hit on all sides, and institutional money is withdrawing first. Spending $750,000 to hire lobbyists buys “legitimacy insurance,” but the money inside the ETF won’t listen to the story—it steps out first. Political patience and financial impatience are fighting on the same coin.
Do you think privacy coins are being wrongly targeted by regulation, or that they simply shouldn’t have been made into ETFs in the first place? Let’s discuss in the comments.
Click the avatar to watch the live stream
Every day, I’ll take you through privacy-coin and crypto-regulation hotspots—not just what’s happening in the news, but also the logic and opportunities behind it 👀🚀
