$137.9 Million Exits Bitcoin Funds as Money Flows Into Zcash Funds
Key Facts
U.S. spot Bitcoin exchange-traded funds recorded net outflows of $137.9 million on Friday, October 23, 2026, according to Crypto ETF data. In the same session, $20.5 million flowed into Zcash funds, a contrast in flows between the products on a day marked by money leaving Bitcoin funds. Crypto ETF said that “Bitcoin led the outflows,” totaling $137.9 million. The Zcash inflow went to the ZCSH fund, according to the fund’s daily data. These figures place Friday’s session in the context of differing flow directions between the products, without by themselves establishing a broader shift in investor positioning.
Friday’s outflow followed Thursday’s session, when IBIT and FBTC led most of the withdrawals from Bitcoin funds. IBIT lost $254.05 million, while FBTC recorded an outflow of $217.46 million, according to a Bitcoin.com report. Together, the two funds accounted for about 74% of Thursday’s total withdrawals. The report said that “these two funds accounted for about 74% of Thursday’s withdrawals.” The distribution of withdrawals shows that most were concentrated in BlackRock’s and Fidelity’s funds during that session, while Friday’s net outflow remained a separate figure from the previous day’s total.
On the other side, inflows to Zcash funds continued for four consecutive days through Friday, October 23, according to Crypto ETF data. The ZCSH fund recorded inflows of $1.6 million on October 20, followed by $15.2 million on October 21. Inflows rose to $14.2 million on October 22, before reaching $20.5 million on October 23. That means the largest daily inflow among the four days covered by the data came in the latest session. The series shows money continuing to enter the fund on the days cited, while the evidence does not include a comparable figure for NEAR funds on Friday.
ZCSH began trading on NYSE Arca on August 25, 2026, and was, according to a Grayscale statement accompanying a filing with the U.S. Securities and Exchange Commission, the world’s first exchange-traded product to offer spot exposure to ZEC. Two weeks after the launch, Grayscale announced that the fund’s assets had exceeded $500 million. A company official said cumulative inflows to the fund topped $70 million during the two weeks after launch, in addition to the investor’s $100 million investment. In a later filing, the fund said Anchorage Digital Bank had become an additional custodian for part of its ZEC holdings, under an amendment signed on September 29, with the prospectus supplement dated October 5. The fund’s filing warns that its shares may trade at a premium or discount to net asset value because the ZEC market operates around the clock while share trading is limited to a daily session.
BTCUSD closed at $81,189.43 on October 23, then at $80,888.16 on October 24, according to EL7 data. The figures record two consecutive daily closes after the session in which money flowed out of Bitcoin funds, but they do not by themselves determine the cause of the price movement. Attention is turning to the Federal Open Market Committee meeting scheduled for October 27 and 28, according to the Federal Reserve calendar. The U.S. Bureau of Economic Analysis is also scheduled to publish its advance estimate of third-quarter U.S. gross domestic product on October 29 at 8:30 a.m. The two upcoming events put monetary policy and growth data among the next major economic dates following Friday’s fund flows.