The latest crypto ETF flow data delivered a notable shift in investor demand: Zcash (ZEC) spot ETFs attracted $98.2 million for the week ending September 18, more than any other crypto ETF product. Ethereum, meanwhile, recorded the week's largest outflow at $140 million.
Zcash Becomes the Standout
Zcash has now recorded four consecutive weeks of positive ETF flows since its late-August launch.
Its cumulative inflows reached approximately $271 million, while assets rose 40.5% to $914.5 million last week. Trading volume reached $11.42 billion, representing about 32.5% of spot crypto ETF turnover.
₿ Bitcoin: Heavy Selling, Then a Strong Recovery
Bitcoin ETFs had an extremely volatile week.
- Monday: +$160.04M
- Tuesday: -$450.33M
- Wednesday: -$295.98M
- Friday: +$433.03M
- Weekly total: +$6.2M
The midweek selling followed the Senate's CLARITY Act setback and the Federal Reserve's 25-basis-point rate hike. Bitcoin ETF inflows then rebounded sharply.
Ethereum Remains Under Pressure
Ethereum ETFs experienced three consecutive sessions of withdrawals totaling approximately $404.82 million, followed by a $143.8 million inflow on Friday.
That recovery was not enough to offset earlier losses, leaving Ethereum with the only negative weekly flow among the 14 products tracked.
Altcoin ETF Flows
The other major products remained positive:
- Solana: +$13.2M
- XRP: +$9.6M
- Hyperliquid: +$3.1M
- Chainlink: +$2.6M
- Avalanche: +$0.97M
- Tron: +$0.49M
- Dogecoin: +$0.28M
- Litecoin: +$0.28M
- Hedera: +$0.10M
- BNB: $0
- Polkadot: $0
Across all 14 products, net flows were approximately -$5 million, while combined assets increased 4.89% to $123.9 billion.
What This Says About Crypto Investors
The numbers show that crypto ETF demand is becoming more diversified, with newer altcoin products attracting meaningful capital.
At the same time, Bitcoin and Ethereum flows remain highly sensitive to Fed policy, regulation, Treasury yields and broader risk sentiment.
Fed Policy → Liquidity → ETF Flows → Crypto Prices
Bottom Line
Zcash was the surprise leader of the week, while Ethereum faced the strongest selling pressure. Bitcoin nearly erased its midweek ETF losses through a late-week recovery.
The key question for next week is whether Zcash's strong inflows continue or capital rotates back toward Bitcoin and Ethereum.
Prepared By: Shahzad Ahmad
(Market Analyst | Stock ,Commodity, Crypto & Macro Research)
