Grayscale Zcash ETF sees $41.1 million inflow as Bitcoin and Ethereum funds decline

During the week ending October 23, 2026, Grayscale’s Zcash ETF (ZCSH) recorded $41.1 million in net inflows, recovering nearly 29% of its previous three-week losses. The surge occurred as Zcash rose 7% to trade above $1,200, while Bitcoin and Ethereum spot ETFs faced significant market pressure, losing over $500 million in two days and $220.7 million weekly, respectively.

Grayscale Zcash ETF Weekly Flows

• ▪The Grayscale Zcash ETF (ZCSH) recorded $41.1 million in net inflows for the week ending October 23, 2026, marking its highest weekly total since mid-September 2026
• ▪Daily net inflows into the Grayscale Zcash ETF reached $1.6 million on October 20, $15.2 million on October 21, $14.2 million on October 22, and $20.5 million on October 23, 2026
• ▪The Grayscale Zcash ETF experienced $10.4 million in net outflows on October 19, 2026, before achieving four consecutive trading days of net inflows
• ▪In September 2026, a $98.2 million weekly inflow into the Grayscale Zcash ETF was followed by three consecutive weeks of net withdrawals
• ▪The $41.1 million weekly inflow recovered nearly 29 percent of the $143 million in net outflows lost by the Grayscale Zcash ETF over the preceding three weeks

Investor interest in Zcash ETF

• ▪Since launching on August 25, 2026, the Grayscale Zcash ETF (ZCSH) has accumulated cumulative net inflows in a range of over $177 million to $270 million
• ▪Analysis of ETF flow data indicates investors sought differentiated cryptocurrency assets with privacy features like Zcash during broader market volatility in October 2026

Performance of Bitcoin and Ethereum ETFs

• ▪Bitcoin exchange-traded funds finished the week ending October 23, 2026, with a positive weekly net flow of $301.2 million
• ▪Ethereum exchange-traded funds recorded net losses of $220.7 million during the week ending October 23, 2026
• ▪Bitcoin spot exchange-traded funds experienced net outflows exceeding $500 million across a two-day span during the week ending October 23, 2026

Zcash Price movements and analysis

• ▪Zcash (ZEC) rebounded from a weekly low of $1,118 during the week ending October 23, 2026, after previously declining from a peak near $1,690
• ▪Technical analyst Whale Factor identified $597 as a major historical support level for Zcash, projecting the token remains in a declining price channel
• ▪Technical analyst that1618guy stated that a daily price close above $1,223 could trigger a bullish crossover of Zcash short-term moving averages around October 28, 2026
• ▪Zcash (ZEC) traded near or above $1,200 during the week ending October 23, 2026, representing a 7 percent price increase while Bitcoin and Ethereum faced downward pressure

Grayscale Zcash ETF product details

• ▪Grayscale launched the Zcash ETF (ZCSH) on August 25, 2026, listing it on NYSE Arca as the first U.S. spot Zcash product with a 2.5 percent management fee
• ▪As of late October 2026, the Grayscale Zcash ETF held approximately $686 million in assets under management and between 537,954 and 560,771 ZEC tokens, over 3 percent of total circulating Zcash supply