Grayscale’s Zcash ETF (ZCSH) surpassed $1 billion in assets under management on September 24, but less than one-third of that value came from new investor money. Cumulative net inflows totaled only $306.12 million, while the rest of the AUM growth stemmed from Zcash’s price surge and pre-existing holdings inherited from the Grayscale Zcash Trust. ZEC roughly doubled since the ETF’s launch on August 25, reaching $1,533 at press time after a 92% gain in 30 days. The milestone coincided with the European launch of the first physically-backed Zcash ETP by 21Shares.
Grayscale’s Zcash ETF (ZCSH) reached $1 billion in assets under management on September 24. However, only $306.12 million of that total came from cumulative net inflows.
The fund was converted from the older Grayscale Zcash Trust, which had already held a large amount of ZEC since 2017. Those existing holdings were simply carried into the ETF structure.
ZEC’s price nearly doubled since the ETF began trading, increasing the dollar value of the fund’s inherited coins. This pushed AUM higher without requiring equivalent new purchases.
At press time, ZEC traded at $1,533 after a 30-day hike of 92%. These price moves coincided with Europe’s launch of the first physically-backed Zcash ETP by 21Shares.
The broader crypto ETF market showed positive sentiment during the week ending September 24. Bitcoin ETFs attracted $2.25 billion in inflows, while Ethereum ETFs recorded $602.94 million.
XRP ETFs brought in $52.95 million, Solana ETFs attracted $101.55 million, and Hyperliquid ETFs recorded $6.02 million in inflows.
