Winklevoss Asset Services filed for a spot Zcash ETF with a 0.25% sponsor fee, a tenth of the 2.50% Grayscale charges on its $751 million fund. Grayscale's recent withdrawals came before the filing and tracked a 21% fall in ZEC, so the fee gap has not yet been tested.
Perspective Coverage
7 publishers
- Builder
- Builder 14%
- Operator
- Operator 32%
- Investor
- Investor 54%
Reality
- Evidence72
- Adoption25
- Hype gap+35
- Incentives78
- Confidence66
Grayscale's Zcash fund loses a tenth of its net inflows in a single day
Grayscale's Zcash ETF recorded a $30.25 million net outflow on Sept. 30, leaving cumulative net inflows near $268 million. With ZEC 21% below its late-September peak, the next flow prints will show whether the fund's buyers stay with the coin after its run.
Reality
- Evidence45
- Adoption35
- Hype gap+10
- Incentives
- Not scored
- Confidence45
Wallets tied to the $387.5 million Bitget hack moved 2,746 ZEC, about $3.9 million, into Zcash's Ironwood shielded pool on September 30. The deposit is about 1% of the theft, and across every route tracked so far roughly 13 dollars have gone dark for each dollar frozen.
Reality
- Evidence70
- Adoption
- Not scored
- Hype gap+25
- Incentives55
- Confidence65
Grayscale will cut ZCSH's NAV per share to a third on Sept. 30. The coin behind the fund went from about $42 a year ago to an intraday $1,521 on Friday, and by one analysis $100 million of the fund's inflow came from a unit of its parent.
Perspective Coverage
5 publishers
- Builder
- Builder 14%
- Operator
- Operator 23%
- Investor
- Investor 63%
Reality
- Evidence70
- Adoption55
- Hype gap+30
- Incentives65
- Confidence65
The fund charges 2.5% a year on about $100,000 of day-one assets held with BitGo, four weeks after Grayscale's US Zcash ETF began trading on NYSE Arca. The European money has not shown up yet.
Reality
- Evidence58
- Adoption28
- Hype gap+44
- Incentives72
- Confidence57
Zcash Foundation disowns ZRC-20 the day after a sponsored post announced it
ZRC-20 needs no consensus change, so the Foundation's denial is a reputational act with no on-chain effect, and it lands while Grayscale's ZCSH ETF has pulled more than $500m into ZEC in two weeks.
Reality
- Evidence42
- Adoption20
- Hype gap+45
- Incentives78
- Confidence45