The American exchange-traded fund Zcash ETF recorded a net outflow of $93.56 million for the week ended October 2, while the price of ZEC fell to around $1300 after a strong rally in September.
According to data from ETF SoSoValue, the weekly loss was the first net outflow from the ZCSH fund of Grayscale since late August. Total net assets fell to roughly $751 million, while the cumulative net inflow remained positive at around $212.56 million.
The reversal came after strong demand in the first weeks of exchange trading. On August 25, Grayscale converted its long-standing Zcash Trust into ZCSH, giving investors access to ZEC via NYSE Arca without the need to directly own the cryptocurrency.
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