Grayscale announced on September 18 that it will execute a 3-for-1 forward split of its Zcash ETF (ZCSH). Shareholders holding the fund at the close on September 28 will receive two additional shares for each share owned. The new shares will be distributed after market close on September 29, with post-split trading beginning September 30.
The split will triple each holder's share count without changing the total value of their position. A stake worth $3,000 before the split will remain worth $3,000 after the adjustment, as the per-share net asset value will be reduced proportionally.
About the Zcash ETF
Grayscale converted its Zcash Trust into an ETF and listed it on NYSE Arca on August 25 under the ticker ZCSH, making it the first U.S. spot fund tracking a privacy coin. The fund carries a 2.5% annual fee and holds Zcash in Coinbase Custody.
Assets in the fund reached $500 million by September 8, up from approximately $260 million at launch. By early September, the fund held more than 550,000 ZEC, representing close to 3% of the coin's total supply.
How Zcash Works
Zcash allows users to choose between transparent addresses similar to Bitcoin and shielded addresses that conceal the sender, receiver, and transaction amount. The ZCSH fund holds coins exclusively in transparent Coinbase wallets, making all holdings verifiable on the public blockchain.
