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ZEC Why did the Grayscale Zcash ETF experience a net outflow of US$67 million?
Today's Zcash news focuses on the Grayscale Zcash ETF, which recorded net redemptions of approximately US$67.25 million this month. It has had one of the strongest offering performances among crypto ETFs and still holds 3.41% of ZEC's total supply.
The fund trades under the ZCSH symbol on NYSE Arca and holds physical ZEC rather than futures contracts. It will start trading in late August 2026. When investors redeem shares, the fund releases the token back to the market.
How fast is the capital outflow?
The most concentrated redemptions occurred on September 30 and October 2. About US$30.25 million flowed out on the first day, and US$26.93 million flowed out on the second day.
For the week ended October 2, the fund's net redemption amount was approximately US$93.56 million. This is the first time that negative weekly data has appeared since launch. Since the weekly statistics cover different time periods and monthly totals, there is a difference between these two figures.
Selling slowed to approximately US$3.57 million on October 5. By early October, its assets had dropped from a high of nearly $979 million to about $751 million.
How does ETF outflows affect the ZEC price trend?
ZEC prices fell from above US$1650 to US$1300 to US$1340 in early October, a drop of about 20%. The correction followed a split and rally in late September.
Redeeming tokens re-enter the open market, which may increase selling pressure. But the data does not prove that the fund caused the entire decline, and derivatives trading and broader market factors may also have played a role.
What does a 3.41% supply share mean for Zcash?
A single product holding 3.41% of supply is a huge amount. Redemptions push tokens into the exchange, while inflows pull them out.
In addition, as Zcash mining rewards increase, supply is also growing, so these capital flows are only part of the overall situation.
The Zcash project describes the coin as a privacy-focused asset built around shielded transactions.
What is the next step after the Zcash ETF outflow?
The next capital flow report will show whether the slowdown in October continues. A single day of calm does not establish a long-term trend.
Today's Zcash news also focuses on the NU7 upgrade. It is reported that the upgrade is in the test network stage this month, and the decision to launch the main network is expected to be made in November. The NU7 upgrade vote may affect market sentiment towards ZEC.
Expert Opinion: What does the outflow of Zcash ETF reveal?
Data shows that selling is mainly concentrated under a few pressures. Daily outflows of $27 million to $30 million had shrunk to $3.57 million on October 5.
The main risk is a second negative week, which would indicate that the momentum from the early stage of the market is fading. Lower ZEC prices will also reduce the size of assets under management without any redemption.
The main suspense remains that the reasons are unclear. The data fails to distinguish between long-term holders and short-term traders, and the total number of trackers also varies. Any news updates on Zcash will depend on subsequent funding flow reports.
Conclusion
This Zcash news update shows the speed at which ETF sentiment changes after a strong start. The product still holds 3.41% of ZEC's supply, so its capital flow remains critical. For broader market dynamics, please refer to the daily cryptocurrency news updates.
