Grayscale Splits Zcash ETF Shares 3-for-1 Amid Surging Interest
Grayscale is issuing a 3-for-1 forward split for its Zcash ETF (ZCSH), which will triple the number of shares held by each investor. This move is designed to boost liquidity and accessibility, particularly after strong interest in the newly listed ETF.
The distribution of new shares will take place on September 29, with trading of post-split shares beginning on September 30. Shareholders who own ZCSH at the close of business on September 28 will receive two additional shares for each existing share.
Grayscale's Zcash ETF began trading on NYSE Arca under the ZCSH ticker on August 25, following the conversion of its long-running Zcash Trust. The fund charges a 2.5% annual management fee, which is about ten times higher than the fee for a typical spot Bitcoin ETF.
The ETF has experienced significant growth since its launch, with assets under management rising from roughly $260 million at listing to over $500 million in early September. The majority of assets in ZCSH originated from prior holdings in the trust, with approximately $70 million in new external inflows and a $100 million allocation made by DCG International Investments.
By September, the ETF held over 550,000 ZEC, representing nearly 3% of the total supply of Zcash. Grayscale plans to increase each ZCSH holder's share count without impacting their proportional ownership or total value.