Grayscale's Zcash ETF Set for Price-Splitting Share Redesignation

Grayscale's Zcash ETF (ZCSH) has announced plans to implement a 3-for-1 forward share split. This means that shareholders will receive two extra shares for each one they hold, at the close of trading on September 28.

The move aims to decrease the price per share of the fund and increase its accessibility to investors. The price per unit has increased significantly over the last year, with Zcash gaining about 2,800% in value.

This development comes as Zcash continues to rise in popularity, following a 20% surge in 24 hours due to Paradigm co-founder Matt Huang's endorsement of the cryptocurrency as a 'private complement to Bitcoin'. The $ZEC token has reached a new effective all-time high of $1,521.