# Grayscale’s Zcash ETF Reaches $1 Billion as Inflows Stay Below 30%

By Enna Lee

Canonical URL: https://www.tokenpost.com/news/investing/24061
Published: 2026-09-25T09:37:15.000Z
Updated: 2026-09-25T09:37:15.000Z

Grayscale’s Zcash ETF reached $1 billion in net assets Sept. 24, but cumulative net inflows accounted for less than 30% of that total.

The fund recorded $306.12 million in net inflows. Its asset base also reflects Zcash holdings carried over from Grayscale Zcash Trust, which was established in October 2017 and already held ZEC when it became the ETF.

ZCSH began trading on NYSE Arca on Aug. 25 and surpassed $500 million in assets within two weeks. ZEC’s price has roughly doubled since the ETF began trading, contributing to the fund’s larger asset base.

On Sept. 8, DCG International Investments exchanged 85,705.32563297 ZEC for about $100 million in ZCSH shares. Excluding that noncash transaction, outside capital added to the fund was about $200 million.

Grayscale plans to complete a 3-for-1 forward split before the Sept. 30 market open. Holders recorded as of the Sept. 28 close will receive the adjustment, which is expected to reduce the net asset value per share to about one-third while tripling the share count.