Grayscale’s Zcash ETF (ZCSH) reached $1 billion in assets under management on September 24, doubling its AUM in just 16 days. However, cumulative net inflows amount to only $306.12 million, representing less than one-third of its current value. This discrepancy is explained by the fact that the ETF was converted from the former Grayscale Zcash Trust, which had held ZEC since 2017, and that ZEC’s price has surged 92% over 30 days to $1,533. During the same period, Bitcoin ETFs recorded $2.25 billion in inflows while Ethereum ETFs attracted $602.94 million.
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