Grayscale’s spot Zcash ETF recorded about $19.2 million in net outflows for its third consecutive week before Zcash (ZEC) rose nearly 3% on Oct. 19.
Sunday trading saw ZEC reach about $1,049; by 3:15 a.m. ET on Oct. 19, the token was near $1,158. The advance followed three weekly losses that had reduced ZEC’s price by roughly 30%.
SoSoValue data showed net withdrawals of $14.76 million on Oct. 15, a figure covered in EconoTimes’ earlier report on that day’s ZCSH outflow. The weekly figure covers Oct. 12-16.
A month earlier, open interest in ZEC futures was $3.29 billion; the latest reading was about $2.3 billion. Open interest counts contracts that have not been closed, but does not show whether those positions would benefit from prices rising or falling.
ETF withdrawals and lower futures open interest accompanied the price rebound, but the figures do not show what drove ZEC’s move.
