Grayscale’s Zcash ETF, trading under the ticker ZCSH, is set to undergo a 3-for-1 forward share split, according to a filing with the U.S. Securities and Exchange Commission.
At the close of trading on Sept. 28, shareholders are expected to receive two additional shares for every share they own. The move will reduce the ETF’s per-share price while leaving the total value of each investor’s position unchanged. For example, a holder of 10 shares valued at $300 each would have 30 shares valued at approximately $100 each after the split.
Lower price follows major gain
Grayscale said the split is intended to make the fund more accessible to investors after its share price rose by about 2,800% over the past year. The number of shares outstanding will increase proportionally, meaning the transaction does not by itself change the value of the fund.
The corporate action comes as Zcash’s native token, ZEC, has also experienced strong market momentum. ZEC gained roughly 20% in a 24-hour period after Paradigm co-founder Matt Huang disclosed that the crypto investment firm had made an unspecified purchase of the token.
Huang described Zcash as a “private complement to Bitcoin” and said long-term investment in its development remains important as artificial intelligence-driven cyber capabilities and quantum computing progress.
Zcash uses zero-knowledge proofs to support shielded transactions that can conceal wallet addresses and transaction amounts. The token climbed as high as $1,521 early Friday, a level reported as a potential new all-time high, before giving back some of the advance.
