TLDR:
- Grayscale’s Zcash ETF drew $41.1 million last week, ending three straight weeks of withdrawals that removed $143.4 million from the fund.
- ZEC rose 6.98% over seven days while Bitcoin and Ethereum prices declined; Bitcoin ETFs still ended the week with $301.2 million in net inflows.
- ZEC rebounded from $1,118 and now faces $1,200 and $1,223 technical levels, while Whale Factor identifies $597 in a view based on a declining channel.
- NU7 mainnet activation is listed for November 5 after an October 20 decision on the activation height, while the Federal Reserve meets October 27–28.
Grayscale’s Zcash ETF recorded $41.1 million in inflows last week, its largest weekly intake since mid-September. The Zcash price rose 6.98% over seven days while Bitcoin and Ethereum prices declined. The reversal followed three weeks of withdrawals totaling $143.4 million.
Friday brought $20.5 million in inflows, the week’s strongest single session. The return of fund demand stood out as the broader crypto market weakened. The shift marks a change in weekly flow direction, though one reporting period cannot show whether it will last.
Zcash ETF Inflows Reverse Three Weeks of Withdrawals
Trading began with $10.4 million in outflows on Monday. The Zcash ETF then recorded positive flows across the next four sessions, ending the week at $41.1 million. Friday’s $20.5 million intake represented half of the weekly amount. On a net basis, the latest week recovered about 29% of the $143.4 million removed over the prior three weeks. That leaves $102.3 million of withdrawals unrecovered.
Bitcoin ETFs lost more than $500 million across two sessions. They finished the week with $301.2 million in net inflows after earlier buying. Ethereum ETFs recorded $220.7 million in withdrawals during the week. Zcash ETF inflows show separate weekly activity.
The Zcash ETF inflow series shows daily fund activity, not intent. It cannot show whether buyers sought temporary exposure, portfolio diversification, or a view on Zcash’s privacy features. Zcash supports private transactions, setting ZEC apart from Bitcoin and Ethereum. A single week does not establish that privacy demand drove the move.
Zcash ETF history provides a recent comparison. A $98.2 million inflow week was followed by three weeks of withdrawals. During that period, ZEC pulled back from a peak near $1,690. The earlier weekly intake was roughly 2.4 times last week’s total.
Zcash ETF Recovery Faces Price Levels and Flow Questions
The ZEC price rebounded after falling to $1,118 last week. The $1,200 area now marks an immediate price test. Some bullish chart analysis requires a close above $1,223 before the short and long moving averages cross around October 28.
The crossover would be a chart signal, not confirmation of a sustained advance. ZEC’s 6.98% weekly gain contrasts with declines in Bitcoin and Ethereum, but one week does not establish a durable trend. The $1,118 low marks ZEC’s most recent recovery point.
Whale Factor sees ZEC price action inside a declining channel and identifies $597 as a major historical level. The $597 reference sits well below the recent price range. It belongs to a different technical time frame from the $1,200 and $1,223 tests. The bullish setup depends on closing above $1,223; a view based on the declining channel retains downside risk. Neither level confirms what Zcash ETF buyers will do next.
Zcash’s NU7 upgrade adds another scheduled catalyst. October 20 was the planned date for setting the mainnet activation height. The published timeline lists November 5 for mainnet activation. Zcash Community Forum The proposal reduces block spacing from 75 seconds to 25. It adds the Network Sustainability Mechanism, intended to support network security over time. It may affect infrastructure used by full nodes, indexers and block explorers.
The proposal describes reduced confirmation latency, but the weekly flow data do not connect ZEC buying to the upgrade. The proposal does not add a transaction format. Version 4 transactions become invalid after activation, while versions 5 and 6 remain valid.
The Federal Reserve’s scheduled October 27–28 meeting adds another market event this week. Meeting calendars and information The next ETF flow reports will show whether ZEC inflows continued through the following week.
