Grayscale Unveils Plan for Zcash ETF Share Split to Broaden Access

Grayscale is preparing a 3-for-1 forward share split for its Zcash ETF, which will lower the per-share price without changing investor value. The move is set to become effective on September 30, with shareholders of record as of September 28 receiving two additional shares for every share they own.

The share split is aimed at making Zcash exposure more accessible through traditional brokerage accounts. As of September 17, Grayscale's ZCSH had seen net inflows of $232.3 million since its launch on August 25.

Grayscale Chief Legal Officer Craig Salm highlighted the protocol's privacy model, noting that Zcash uses zero-knowledge proofs to conceal transaction details while supporting selective disclosure for compliance purposes. The firm is directing 100% of ZCSH management fees toward Zcash ecosystem development and marketing for the fund.

The share split will not change ZCSH's fundamentals, but it underscores how quickly the product is transitioning from a niche crypto trust into a more conventional market vehicle.