Grayscale has filed with the US Securities and Exchange Commission to carry out a 3-for-1 forward share split for its Zcash ETF, trading under the ticker ZCSH. Under the plan, shareholders will receive two additional shares for every share they hold at the close of trading on Sept. 28. The asset manager said the move is expected to lower the fund’s per-share price while increasing the number of shares outstanding on a proportional basis, leaving the total value of an investor’s position unchanged.
In its example, Grayscale said an investor holding 10 shares worth $300 each, or $3,000 in total, would own 30 shares worth $100 each after the split, with the total still at $3,000. The company said the split is intended to make the ETF more accessible after the underlying token rose about 2,800% over the past year.
The filing comes as Zcash has drawn renewed market attention. Cointelegraph previously reported that ZEC rose about 20% in 24 hours after Paradigm co-founder Matt Huang said the firm had made an unspecified purchase of the token. Huang called Zcash a private complement to Bitcoin and voiced support for its developer fund. The Block also reported that ZEC climbed as high as $1,521 early Friday before easing slightly.
Grayscale’s Zcash ETF (ZCSH) is seeking a 3-for-1 forward share split, according to a filing with the US Securities and Exchange Commission.
Under the filing, shareholders will receive two additional shares for each share they own at the close of trading on Sept. 28.
In a press release, Grayscale said the forward split is expected to reduce the fund’s price per share while increasing the number of shares outstanding on a proportional basis.
Share count rises while total position value stays the same
Grayscale used a hypothetical example to show the mechanics of the split. If an investor owned 10 shares valued at $300 each before the split, for a total of $3,000, that investor would hold 30 shares valued at $100 each after the split. The total value would remain $3,000.
The company said the split would make the ETF more accessible to investors because the token’s value has risen by about 2,800% over the past year and the per-unit price was seen as too high.
Zcash rally has put the token back in focus
Cointelegraph reported on Thursday that Zcash (ZEC) — a cryptocurrency that supports shielded transactions using zero-knowledge proofs to conceal addresses and transaction amounts — had gained about 20% over 24 hours after Paradigm co-founder Matt Huang disclosed that the crypto investment firm had made an unspecified purchase of ZEC.
Huang described Zcash as a 「private complement to Bitcoin」 and said he also supported its developer fund, arguing that long-term funding remains important as AI-driven cyber capabilities and quantum computing advance.
The Block reported that ZEC climbed as high as $1,521 early Friday, a level that would count as a new effective all-time high, before pulling back slightly.
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