The adjustment, disclosed in a September 18 SEC filing, dictates that while the number of shares in circulation will triple, the net asset value per share will decrease proportionately to roughly one-third of its pre-split level. The ticker symbol ZCSH and the CUSIP number remain unchanged, and the fund will continue to trade on NYSE Arca.
In section Cryptocurrency
Grayscale Sets 3-for-1 Share Split for Zcash ETF
Grayscale’s Zcash ETF will undergo a 3-for-1 forward share split on September 30, a move aimed at adjusting the fund's share structure following a period of rapid growth. Shareholders of record as of September 28 will receive two additional shares for every single share held, tripling their total position without altering their investment's economic value.
This structural change arrives less than a month after the fund’s August 25 debut, which saw the former Grayscale Zcash Trust convert into an exchange-traded product. The fund has experienced significant capital inflows, with assets under management reportedly reaching approximately $890 million by mid-September. Market participants should note that the price adjustment is a mechanical shift rather than a distribution of new investment returns. The ZCSH price action remains tied to the underlying ZEC asset, which has seen increased volatility and institutional attention, including a recent disclosure of exposure by Paradigm co-founder Matt Huang.
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