Bitcoin recovers toward $79,000 as Zcash records a $500 million ETF haul
Bitcoin is trending toward $79,000 while the Zcash ETF has surpassed $500 million in assets shortly after its debut. Market volatility remains influenced by broader economic factors, including potential Federal Reserve interest rate hikes and geopolitical tensions affecting oil prices.
Why it matters
The growth of specialized crypto ETFs and the impact of macroeconomic indicators on digital assets reflect the maturing and interconnected nature of global financial markets.
The round trip left the token little changed over 24 hours and just under 2% higher on the week. The money that moved went to zcash, where Grayscale said its Zcash ETF crossed $500 million in assets two weeks after listing on NYSE Arca.
The fund, trading under ZCSH, took in more than $70 million of cumulative inflows since its Aug. 25 debut on top of a $100 million investment from DCG International Investments, according to Grayscale.
We're proud to share The Zcash ETF $ZCSH has crossed $500M+ in AUM. The only $ZEC fund in the world now holds over 550,000 $ZEC . This milestone reflects continued investor conviction in Zcash and the demand for privacy in the digital asset ecosystem. Full announcement… pic.twitter.com/mnaVl5d3tV
Get smarter about the news
Sign up free for a feed built around what you actually care about, Dive Deeper research on any story, and the full text of every article.
Create free accountAlready have an account? Sign in