The first U.S. spot Zcash ETF just had its first losing week. Grayscale’s ZCSH recorded $93.56 million of net outflows in the week ended Oct. 2 — its first weekly net outflow since its Aug. 25 NYSE Arca debut — according to SoSoValue data cited by Crypto Briefing (Vivian Nguyen) and BeInCrypto (Kamina Bashir). Cointelegraph’s Monday ETF roundup also flagged it as Zcash funds’ first weekly outflow on record.

Daily redemptions included $30.25 million on Sept. 30 and $26.93 million on Oct. 2. Cumulative net inflows slid from around $268 million to $212.56 million, and assets fell to about $751 million from a September peak of roughly $915–979 million, Crypto Briefing reported. BeInCrypto said the fund had logged no daily net inflows since Sept. 22 and that the week erased about 30% of net inflows since launch.

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From hot launch to first test

Two weeks earlier ZCSH drew $98.2 million in a single week and, at its peak, accounted for up to 32.5% of spot crypto ETF turnover while holding about 3.5% of ZEC supply, per Crypto Briefing. Grayscale’s 3-for-1 share split took effect Sept. 30 — the same day as the largest redemption — and the fund carries a 2.5% expense ratio. BeInCrypto put ZEC near $1,308 on Oct. 3, about 23% below a recent peak near $1,690.

Still net positive

The fund remains net positive since launch. One red week after a launch run is a data point, not a verdict. Robinhood showed ZEC near $1,307 around 9:22 a.m. MT Monday. Not investment advice.

Sources