Key Takeaways
- • Grayscale's Zcash ETF recorded its strongest weekly inflows since mid-September, with Wall Street investors placing $41.1 million into the fund last week, according to BeInCrypto.
- • The Zcash ETF had lost $143 million over the prior three weeks before recovering nearly 29% of those withdrawals last week.
- • Friday alone brought $20.5 million in inflows, following four consecutive days of net inflows after a $10.4 million outflow on Monday.
- • Bitcoin ETFs lost more than $500 million in two days last week, though Bitcoin funds still finished the week $301.2 million positive; Ethereum ETFs lost $220.7 million.
- • ZEC's immediate technical test is the $1,200 level, with some analysts watching for a close above $1,223, while Whale Factor sees a declining price channel and $597 as a major historical level.
Summary
Investors put $41.1 million into Grayscale's Zcash ETF last week, the fund's strongest weekly inflow since mid-September, according to BeInCrypto. The inflows came as Bitcoin ETFs lost more than half a billion dollars over two days, though Bitcoin funds still finished the week $301.2 million positive on earlier buying. Ethereum ETFs lost $220.7 million over the same period.
The Zcash fund's recent flows reflect a sharp reversal. After three difficult weeks in which the ETF lost $143 million, it recovered nearly 29% of those withdrawals last week. A $10.4 million outflow on Monday was followed by four consecutive days of inflows, with Friday alone accounting for $20.5 million. The report notes that the fund data cannot establish why buyers returned, though the privacy-focused design of Zcash is presented as a differentiating investment thesis.
Price action has been volatile. ZEC fell to $1,118 last week before rebounding, and the $1,200 level is the immediate test. Some analysts see a potential bullish signal if ZEC closes above $1,223, which could produce a crossover of its short-term moving averages around October 28. Whale Factor takes a more cautious view, describing ZEC as trading in a declining price channel and identifying $597 as a major historical level.
BeInCrypto points to September as a cautionary precedent. A $98.2 million inflow week was followed by three weeks of withdrawals as ZEC retreated from its peak near $1,690. The next ETF flow reports and the Federal Reserve's October 27–28 meeting are cited as factors that could determine whether the recovery in Zcash continues.
The Zcash fund's recent flows reflect a sharp reversal. After three difficult weeks in which the ETF lost $143 million, it recovered nearly 29% of those withdrawals last week. A $10.4 million outflow on Monday was followed by four consecutive days of inflows, with Friday alone accounting for $20.5 million. The report notes that the fund data cannot establish why buyers returned, though the privacy-focused design of Zcash is presented as a differentiating investment thesis.
Price action has been volatile. ZEC fell to $1,118 last week before rebounding, and the $1,200 level is the immediate test. Some analysts see a potential bullish signal if ZEC closes above $1,223, which could produce a crossover of its short-term moving averages around October 28. Whale Factor takes a more cautious view, describing ZEC as trading in a declining price channel and identifying $597 as a major historical level.
BeInCrypto points to September as a cautionary precedent. A $98.2 million inflow week was followed by three weeks of withdrawals as ZEC retreated from its peak near $1,690. The next ETF flow reports and the Federal Reserve's October 27–28 meeting are cited as factors that could determine whether the recovery in Zcash continues.
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