Grayscale's Zcash ETF Tops $1 Billion, but Most of It Isn't New Money

• —ZCSH net inflows reached $306.12M by Sept. 24 against $1B in net assets
• —DCG contributed 85,705 ZEC worth about $100M in a Sept. 8 in-kind swap
• —ZEC trades near $1,540, roughly double its price when the ETF debuted
• —Grayscale's 3-for-1 ZCSH split takes effect before the Sept. 30 open