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Ethereum ETFs are bleeding, but one coin is being quietly bought up by funds. Last week, Grayscale's ZEC ETF saw a net inflow of $41.1 million, the strongest weekly inflow since September. Just the week before, it had experienced three consecutive weeks of net outflows, totaling $143 million. Even more striking: in the same week, Bitcoin ETFs saw a net inflow of $301 million, while Ethereum ETFs saw a net outflow of $220.7 million. ZEC is rising, BTC and ETH are falling. Funds are shifting direction.

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