Grayscale’s Zcash ETF pulls in $41.1 million as Bitcoin and Ethereum funds wobble
Grayscale's Zcash ETF (ZCSH) saw $41.1 million in inflows last week, its highest since mid-September, while Bitcoin and Ethereum ETFs faced outflows. ZCSH recovered less than a third of its prior $143 million outflows. The fund, launched in August 2026, manages $686 million and holds over 3% of Zcash's circulating supply.
How this was made

The 30-second read
Why it matters
The inflow data provides a fresh signal of investor sentiment toward privacy coins, offering a tactical entry point for traders tracking crypto‑ETF flows.
Market read
ZCSH’s inflow surge may drive short‑term price appreciation and indicates a niche shift within the crypto‑ETF space.
What to watch
Management fee of 2.5% and concentration of >3% of ZEC supply could amplify future outflow impact.
Background
Grayscale’s Zcash ETF (ZCSH) posted its best weekly inflow in over a month, contrasting with outflows in larger Bitcoin and Ethereum ETFs.
Ticker impact
ZCSH reported $41.1 million net inflows for the week ending Oct 23 2026, its strongest weekly total since mid‑September.
upward pressure as the fund purchases ZEC to meet new share creation
Weekly net inflows of $41.1 M are a fresh data point and indicate buying pressure; similar past inflow spikes have lifted ETF prices.
Market effects
Highlights renewed interest in privacy‑focused crypto assets, may benefit other Zcash‑related products.
U.S. crypto‑ETF market shows selective inflow patterns amid broader crypto outflows.
Signals potential shift of capital toward niche crypto exposure despite pressure on Bitcoin and Ethereum ETFs.
Counterpoint
If the inflow surge is short‑lived, a reversal could pressure ZCSH shares, especially if broader crypto sentiment stays negative.
Key entities
- CompanyGrayscale Investments
Issuer of the ZCSH ETF.



