Grayscale Zcash ETF Asset Scale Exceeds $500 Million, Holds Over 550,000 ZEC
PANews, September 9 — According to CoinDesk, Grayscale’s Zcash spot ETF (ZCSH) has seen its assets under management exceed $500 million within two weeks of launch, currently holding over 550,000 ZEC, accounting for approximately 3% of its total circulating supply of 16.9 million. Since its listing on August 25, the fund has attracted over $70 million in inflows, in addition to a $100 million investment from DCG International Investments. Driven by this, ZEC briefly broke through $1,180 intraday, gaining over 4%, with a 24-hour trading volume of approximately $1 billion, and its market cap rose to tenth place among cryptocurrencies.
Grayscale's Zcash ETF has absorbed over 550k ZEC (~3% of float) and drawn >$70M inflows plus a $100M DCG backing in two weeks. This is direct institutional buying demand that locks up supply and adds verifiable buy pressure, confirmed by ZEC's 4% intraday gain. ZEC is short-term bullish (strong).