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XRP ETFs took in nearly $2 million on Tuesday, while bitcoin, ether, solana and hyperliquid funds saw outflows. Grayscale products accounted for all bitcoin and ether outflows, CoinDesk reported.
Zcash gained 45% in one week, reaching its highest price since 2016 and pushing its market capitalization above $20 billion. The rally has continued since Grayscale’s Zcash Trust ETF began trading on Aug. 25.
Zcash (ZEC) reached an intraday high of $1,050.70 on Sept. 4, gaining roughly 20% in 24 hours. Grayscale’s ZCSH spot ETF surpassed $400 million in assets, reaching $414.7 million less than two weeks after launch.
Grayscale, a16z and the CCI are asking the SEC to preserve existing classification rules for novel ETFs and avoid treating all new exchange-traded products as one category, while suggesting routes to faster, clearer reviews.
US spot Ethereum ETFs appeared to launch with $10.36 billion in assets, but CryptoSlate’s review of filing data found that most came from ETH already held by Grayscale’s older trusts rather than new institutional buying.
Grayscale’s research team says bitcoin is benefiting from the so-called debasement trade, which Bitcoin Magazine linked to government debt. The asset manager said the environment could support bitcoin.
Zcash has climbed roughly 19-fold in a year, while Grayscale says its market cap remains below 1% of Bitcoin’s. The firm sees potential for ZEC to challenge Bitcoin’s network effects as privacy demand grows.
