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🚨 ZCASH ETF JUST CROSSED $1B IN AUM. But the composition is more interesting than the headline. Grayscale’s ZCSH reached $1B, with $306M in cumulative net inflows. Less than 30% of that $1B came from those inflows. And even the $306M needs an asterisk: $100M came from DCG in an in-kind ZEC swap.