Key Takeaways
- • Zcash (ZEC) recovered above $1,100 on Oct. 19, 2026, with CoinGecko showing $1,135.48, up 3.8% over 24 hours but down 10% over seven days, and remaining roughly 21% below its $1,438.21 close on Sep. 30.
- • U.S. Zcash ETF products recorded outflows during the correction, including $93.56 million in weekly withdrawals for the period ended Oct. 2 (SoSoValue) and $30.8 million in outflows for Oct. 5–9 (Farside Investors).
- • CoinGlass recorded $2.29 billion in ZEC open interest and $13.55 million in daily liquidations, with futures turnover roughly 12.6 times spot turnover over the 24-hour window.
- • Shielded ZEC balances rose 1% over 28 days to 4.96 million ZEC, about 29.2% of total supply, per Zcash Stats, showing no comparable contraction alongside the price decline.
- • Winklevoss Asset Services filed an S-1 for a proposed spot Zcash ETF to trade on Nasdaq under WINK, with Gemini Trust Company as custodian; the filing is an application, not an active product.
Summary
Zcash has recovered above $1,100 after dipping to a daily low near $1,050, according to CoinGecko data cited in the report. The privacy coin, ranked tenth by market capitalization at $19.29 billion, traded with daily spot volume of $1.005 billion. The token's daily range stretched from $1,049.90 to $1,186.79, but it remains well below its September levels, with a $1,438.21 close on Sep. 30 and $1,301.16 on Oct. 2.
Derivatives data from CoinGlass showed $2.29 billion in outstanding ZEC futures positions and $6.79 billion in daily futures turnover, compared with $538.34 million in spot volume. Liquidations totaled $13.55 million over the same 24-hour period. CoinGecko displayed a positive eight-hour perpetual funding rate of 0.0089%, but the snapshots do not establish that a crowded short trade drove the bounce.
U.S. fund flows were negative during the correction. crypto.news, citing SoSoValue, recorded $93.56 million in weekly Zcash ETF withdrawals for the period ended Oct. 2, with daily redemptions of $30.25 million on Sep. 30 and $26.93 million on Oct. 2. A later weekly report citing Farside Investors recorded $30.8 million in Zcash fund outflows for Oct. 5–9. The two reports cover different periods and data providers, and the figures do not establish how much of the price decline resulted from redemptions. Grayscale's ZCSH converted from a trust into an exchange-traded product on NYSE Arca on Aug. 25.
Product development continued during the selloff. Winklevoss Asset Services filed an S-1 registration for a proposed spot Zcash ETF, which would trade on Nasdaq under WINK and hold ZEC with Gemini Trust Company, using cash-based creations and redemptions. The filing is an application and does not indicate trading has begun. Developers were also targeting a network upgrade, NU7, for Nov. 5, with a mainnet activation decision expected Oct. 20. As proposed, the upgrade would reduce target block spacing from 75 seconds to 25 seconds while adjusting block rewards and the halving interval to keep issuance largely unchanged.
On-chain privacy usage held up relative to price. Zcash Stats recorded 4.96 million ZEC in shielded pools on Oct. 18, up from 4.91 million ZEC 28 days earlier. The tracker notes that balances do not reveal individual holders or transaction amounts. Separately, developer Adam Tucker of Zakura proposed a design using a separate incoming viewing key for each published swap address, aimed at limiting exposure of addresses used in NEAR Intents cross-chain swaps to future quantum attacks. Zakura's implementation plan says software wallets using its libraries, including Vizor, could integrate the feature in the coming weeks, with hardware wallets following once firmware supports it.
Derivatives data from CoinGlass showed $2.29 billion in outstanding ZEC futures positions and $6.79 billion in daily futures turnover, compared with $538.34 million in spot volume. Liquidations totaled $13.55 million over the same 24-hour period. CoinGecko displayed a positive eight-hour perpetual funding rate of 0.0089%, but the snapshots do not establish that a crowded short trade drove the bounce.
U.S. fund flows were negative during the correction. crypto.news, citing SoSoValue, recorded $93.56 million in weekly Zcash ETF withdrawals for the period ended Oct. 2, with daily redemptions of $30.25 million on Sep. 30 and $26.93 million on Oct. 2. A later weekly report citing Farside Investors recorded $30.8 million in Zcash fund outflows for Oct. 5–9. The two reports cover different periods and data providers, and the figures do not establish how much of the price decline resulted from redemptions. Grayscale's ZCSH converted from a trust into an exchange-traded product on NYSE Arca on Aug. 25.
Product development continued during the selloff. Winklevoss Asset Services filed an S-1 registration for a proposed spot Zcash ETF, which would trade on Nasdaq under WINK and hold ZEC with Gemini Trust Company, using cash-based creations and redemptions. The filing is an application and does not indicate trading has begun. Developers were also targeting a network upgrade, NU7, for Nov. 5, with a mainnet activation decision expected Oct. 20. As proposed, the upgrade would reduce target block spacing from 75 seconds to 25 seconds while adjusting block rewards and the halving interval to keep issuance largely unchanged.
On-chain privacy usage held up relative to price. Zcash Stats recorded 4.96 million ZEC in shielded pools on Oct. 18, up from 4.91 million ZEC 28 days earlier. The tracker notes that balances do not reveal individual holders or transaction amounts. Separately, developer Adam Tucker of Zakura proposed a design using a separate incoming viewing key for each published swap address, aimed at limiting exposure of addresses used in NEAR Intents cross-chain swaps to future quantum attacks. Zakura's implementation plan says software wallets using its libraries, including Vizor, could integrate the feature in the coming weeks, with hardware wallets following once firmware supports it.
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