Managing a fund of $751 million, this week it saw an outflow of $93.56 million—this is the US $ZEC spot ETF.
Starting from the end of August, this ETF has had net inflows every single week without a break.
That's why ZEC has been hyped all along as the privacy leader, with the price peaking at $1,697, and even people in the US and Europe who don't touch crypto are sharing posts about the privacy narrative.
But this week, it turned around. As of October 2, single-week net outflow of $93.56 million—the first since the end of August.
The money left, and the price followed suit down. ZEC is now at $1,309, down 22.8% from the $1,697 high. The crowd shouting the privacy narrative hasn't skipped a beat—long posts keep coming, target prices keep getting called—but no one's mentioning what this ETF has been up to this week.
The narrative is still hanging there, but the buy-side money pulled out first.
That $93.56 million in chips all got dumped around the $1,300 level this week. Anyone stepping in now is just catching the batch that the ETF offloaded.
Starting from the end of August, this ETF has had net inflows every single week without a break.
That's why ZEC has been hyped all along as the privacy leader, with the price peaking at $1,697, and even people in the US and Europe who don't touch crypto are sharing posts about the privacy narrative.
But this week, it turned around. As of October 2, single-week net outflow of $93.56 million—the first since the end of August.
The money left, and the price followed suit down. ZEC is now at $1,309, down 22.8% from the $1,697 high. The crowd shouting the privacy narrative hasn't skipped a beat—long posts keep coming, target prices keep getting called—but no one's mentioning what this ETF has been up to this week.
The narrative is still hanging there, but the buy-side money pulled out first.
That $93.56 million in chips all got dumped around the $1,300 level this week. Anyone stepping in now is just catching the batch that the ETF offloaded.
