U.S. spot funds tied to Zcash (ZEC) held $602 million in net assets despite a $10.45 million Oct. 19 withdrawal, showing how fund size can differ from daily cash flows.
The Zcash ETF (ZCSH), sponsored by Grayscale, accounted for the entire withdrawal. It was the fund’s third consecutive trading session of outflows, though ZEC funds still had $152 million in cumulative net inflows as of Oct. 20.
ZCSH’s asset base includes ZEC carried over from a predecessor trust. Price appreciation has also contributed to its value. Those factors help explain why the group’s net assets exceed its cumulative net inflows, which measure cash entering and leaving the funds.
Funds tied to NEAR Protocol (NEAR) moved in the opposite direction on Oct. 19. They drew $5.42 million, all through the Bitwise NEAR ETF (NRR). As of Oct. 20, NEAR funds had $88.47 million in cumulative net inflows and $86.95 million in net assets.
ZEC funds had taken in $3.68 million on Oct. 14 before the later withdrawals. The opposing Zcash and NEAR flows were part of a wider Oct. 19 split among altcoin funds that also included Solana outflows and Litecoin inflows.
