+34
Grayscale's Zcash ETF reached $1 billion in assets under management, with only $306.12 million in new inflows, as the milestone was primarily fueled by a doubling in ZEC's price and the conversion of the older trust's pre-existing holdings.
In a surprising turn of events, Grayscale’s Zcash ETF hit $1 billion in assets under management on 24th September. However, this does not mean investors have poured $1 billion of new money into the fund.
Instead, only $306.12 million was poured in as cumulative net inflows. In other words, less than one-third of its current value came from new investor money. AD However, this surge in momentum was not just driven by fresh investor inflows. Instead, it was fueled also by Zcash’s sharp price hike and the fund’s pre-existingFor those unaware, ZCSH got converted from the older Grayscale Zcash Trust, which had already been holding a large amount of ZEC since 2017.
And therefore, it goes without saying that those existing ZEC holdings were simply carried into the ETF structure. At the same time, ZEC’s price has roughly doubled since the ETF began trading, increasing the dollar value of the ZEC the fund already owned. This, in turn, has pushed its AUM higher, without requiring equivalent new purchases. Bitcoin AltcoinAMBCrypto was founded in 2018 with a mission to simplify and bring the latest blockchain and cryptocurrency news to our readers.
We have quickly grown into the digital news source for an emerging generation of cryptocurrency enthusiasts, reaching more than a million readers on a monthly basis, across the globe.
Grayscale Zcash ETF Asset Under Management Bitcoin
Canada Latest News, Canada Headlines
Similar News: You can also read news stories similar to this one that we have collected from other news sources.
Apple TV+ Releases New Woody Harrelson and Matthew McConaughey Comedy, Blue Heron Hits CraveApple TV+ premieres a stoner comedy starring Woody Harrelson and Matthew McConaughey as fictionalized versions of themselves in a Texas ranch setting. Meanwhile, Sophy Romvari's debut film Blue Heron streams on Crave, following a family's struggle with their son's mental health in 1990s British Columbia.
Read more »
‘Only hedge funds, retail sold’ — Will BTC sustain rally as Bitcoin ETF flows turn positive?Will BTC hold above $80K ahead of another likely October Fed rate hike?
Read more »
How to Swap Crypto to ZEC (Zcash) Using SwapToZec.comZcash (ZEC) continues to occupy a distinct corner of the cryptocurrency market, largely because of its focus on optional transaction privacy. For crypto
Read more »
Researchers Propose Zcash-Style Private Bitcoin Transfers Without Consensus ChangesResearchers led by Clara Shikheman have proposed a method to enable private Bitcoin transactions using Tornado Cash mixer logic and zero-knowledge proofs, allowing shielded transfers without soft forks or bridge operators, though the approach remains untested.
Read more »