Grayscale's Zcash (ZEC) ETF Takes In $14.23M for Third Straight Session

Grayscale's ZCSH Extends Inflow Streak to Three Days

Aggregate ETF flow data shows Grayscale's spot Zcash (ZEC) fund, which trades under the ticker ZCSH, absorbed $14.23 million in net creations on Thursday, October 22. It was the fund's third consecutive session of net inflows, and the day lifted its cumulative intake since launch to $183.27 million on $63.33 million of trading volume. The figures come from issuers' daily creation and redemption disclosures, the primary record of what investors put into and pulled from the products. The print stood out on a divided day for the altcoin spot ETF complex: only four vehicles posted net inflows, with XRP, HBAR and NEAR funds joining ZEC, while the Solana and Hyperliquid cohorts bled cash and seven other products went unchanged. Demand arrived as the token itself cooled. The Zcash (ZEC) price last sits near $1,227, down 5.2% across the past 24 hours, though it has ticked 0.4% higher since the flow report crossed the wire at 03:31 UTC on Friday. The wider board shows a market picking winners narrowly. XRP funds took in $3.55 million, a second straight positive day, delivered entirely through Franklin's XRPZ out of five listed products. Bitwise's NEAR fund added $513,062 for its second consecutive gain, and Canary's HBAR vehicle booked $107,442 after three quiet sessions. The outflow column was heavier. Solana's nine-fund group reversed after a single positive session, shedding $8.51 million; only Canary's SOLC took in money at $419,538, while Grayscale's GSOL gave back $3.22 million and Bitwise's BSOL lost $5.72 million. Hyperliquid's three funds dropped $7.88 million after a flat Thursday, with Bitwise's BHYP down $6.98 million and 21Shares' THYP down $897,782. Dogecoin, Chainlink, Avalanche, Litecoin, Polkadot, BNB and Tron products all registered zero net movement.

Depth, not just direction, separates ZCSH from the rest of the day's winners. Its $681.39 million in net assets equals 3.27% of ZEC's roughly $20.8 billion market capitalization, the largest claim on the underlying asset anywhere in the cohort. XRP's $1.81 billion cumulative intake supports net assets of $1.49 billion, or 1.79% of that market's size, and Solana's $1.54 billion cumulative figure carries a 2.62% weight. Hyperliquid's group holds net assets of $387.14 million, or 2.23%, leaving ZCSH the only fund whose assets exceed 3% of its coin's value. The flat column, meanwhile, carries some long streaks. The Tron fund has now gone 27 sessions without a flow on $491,056 banked, the Polkadot and BNB vehicles each marked a fifth idle day, Avalanche's ten-session run of movement ended on $31.63 million cumulative, Chainlink's products sat out a fourth session despite $179.23 million banked, and Litecoin's fund stayed quiet a third straight day at $16.88 million. Dogecoin's product was flat at $16.43 million cumulative. For ZEC itself, the inflow streak lands against a tape that has started to stall: sellers recently rejected the token near $1,292, while the rebound that began in October still holds the $1,100 shelf beneath spot. Development continues in parallel, with the NU7 upgrade set at block 3,543,405, a change that cuts block times roughly threefold for payments. Whether institutional demand of the kind ZCSH keeps showing arrives while price consolidates is the near-term question; the fund has now added money three sessions running even as spot momentum cools.

Neutral RSI, Negative Funding

Our own readings explain the disconnect between persistent creations and a flat tape. Spot last printed $1,226.86, just under the nearest resistance at $1,246.98, which scores 92 out of 100 in our composite level model, while the strongest support at $1,094.30 scores 94/100 and sits about 10% below. Momentum reads neutral, with an RSI of 48.85 and a sideways trend call. Perp positioning leans mildly short: funding runs at -0.0017% against $719.4 million in open interest. Three sessions of ZCSH inflows have so far cushioned the pullback rather than reversed it; a close above $1,246.98, or a break of $1,094.30, would settle which force is stronger. The fuller level map sits in our Zcash technical analysis.