Grayscale Investment filed a Form N-2 with the U.S. Securities and Exchange Commission indicating that its Zcash exchange‑traded fund (ticker ZCSH) will undergo a 3‑for‑1 forward share split. The split will take effect at the close of trading on Sept. 28, with shareholders receiving two additional shares for each share held.
The forward split will reduce the fund's price per share proportionally while increasing the number of shares outstanding. Grayscale illustrated the effect with a hypothetical: an investor holding 10 shares at $300 each ($3,000 total) would own 30 shares at $100 each after the split, preserving the $3,000 value.
Grayscale said the move is intended to make the ETF more accessible, noting that Zcash’s market price has risen roughly 2,800% over the past year, leaving the per‑share price relatively high for many investors.
Separately, Zcash (ZEC) surged about 20% in a 24‑hour period after Paradigm co‑founder Matt Huang disclosed that the firm had purchased an undisclosed amount of the cryptocurrency. Huang described Zcash as a “private complement to Bitcoin” and highlighted the importance of funding its developer ecosystem amid advances in AI‑driven cyber capabilities and quantum computing. ZEC briefly reached $1,521, an effective all‑time high, before easing slightly.
Zcash is a privacy‑focused cryptocurrency that uses zero‑knowledge proofs to conceal transaction amounts and addresses, offering shielded transactions distinct from Bitcoin’s transparent ledger.
