ETF Investors Pouring Millions Back Into Zcash as Bitcoin Falls
BTC when published $80,739Now $80,568 ▼ −0.21% since it was published
Bitcoin ETFs lost more than half a billion in just two days last week. Meanwhile, Wall Street investors poured $41.1 million into Zcash. Are they anticipating another rally for ZEC? Grayscale’s Zcash ETF recorded its strongest weekly inflows since mid-September, raising questions about whether investors are returning to the privacy-focused cryptocurrency ahead of a broader recovery. Bitcoin funds still finished the week $301.2 million positive, thanks to earlier buying. Ethereum ETFs, meanwhile, lost $220.7 million. Why Is Money Returning to Zcash? Zcash’s recovery follows three difficult weeks. Its ETF lost $143 million during that period before recovering nearly 29% of those withdrawals last week. After another $10.4 million left on Monday, the fund recorded four consecutive days of inflows. Friday alone brought $20.5 million.
First reported by BeInCrypto. This page is a short excerpt; the full text is theirs.
