ETF Investors Pouring Millions Back Into Zcash as Bitcoin Falls
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.
Zcash ETF Weekly Flows Chart. Source: SoSoValue
The return of buyers suggests some investors are willing to bet on a recovery after Zcash’s recent correction.
Its focus on private transactions offers a different investment story, although the fund data cannot establish why buyers returned.
Can Zcash Price Sustain the Recovery?
The immediate test is $1,200. ZEC rebounded after falling to $1,118 last week, but analysts remain divided.
Some analysts see a potential bullish signal if ZEC closes above $1,223. That could lead to a crossover of its short-term moving averages around October 28, suggesting stronger upward momentum.
Whale Factor is less optimistic. The analyst sees ZEC trading in a declining price channel, identifying $597 as a major historical level.
$ZEC next thing im watching is the 1D green cross, current eta is in ~5 days and if price can close above the 1223 levelif ZEC god candles above 1414 it will force the cross but atm its a bulls wet dream. imo the battle for the 1200ish levels will be fought over the next week https://t.co/cytWw82vOp pic.twitter.com/FdWIcayMPm
— that1618guy (@that1618guy) October 23, 2026
September offers a warning. A $98.2 million inflow week was followed by three weeks of withdrawals, while ZEC retreated from its peak near $1,690.
The next ETF flow reports and the Federal Reserve’s October 27–28 meeting could help determine whether Zcash’s recovery continues.
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