Grayscale Zcash ETF to Triple Shares via 3-for-1 Split on Sept 30

Grayscale's Zcash ETF has announced a three-for-one share split, set to take effect on September 30th. This move comes less than a month after the fund's debut on the NYSE Arca, where it has already attracted over $843 million in assets under management.

The split will triple the number of shares outstanding, while maintaining the total economic value represented by each investor's holding. According to Grayscale, the post-split net asset value (NAV) per share is expected to be approximately one-third of its pre-split level.

The fund has seen rapid growth since its launch on August 25th, with assets under management crossing $500 million within two weeks and cumulative inflows surpassing $233 million as of September 17th. The Zcash ETF allows U.S. brokerage investors to gain exchange-traded exposure to the ZEC cryptocurrency without directly acquiring and custodying it.