Grayscale Sets 3-for-1 Share Split for Zcash ETF

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.

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.