Markets ✓LaunchBar Newsroom 📅 September 26, 2026 at 08:30 AM ⏱ 2 min

Zcash ETF Hits $1B as ZEC Rockets 92%—But Inflows Lag

Grayscale’s Zcash ETF, ZCSH, reached $1B AUM on September 24, doubling from $500M in 16 days. The headline looks explosive—but fresh investor money tells a cooler story.

Cumulative net inflows: $306.12M, less than one-third of AUM.
The fund inherited existing ZEC holdings from Grayscale’s trust; rising token prices also lifted its dollar value.
ZEC gained 92% in 30 days, trading at $1,533 in the report; Europe also saw a physically backed Zcash ETP launch from 21Shares.

LaunchBar take: this is a powerful price-and-product signal, not proof of $1B in new buying. Track actual flows alongside ZEC’s rally before chasing the AUM headline.

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