Grayscale's Zcash ETF Share Split Trips Value
Grayscale has announced a 3-for-1 forward share split for its Zcash ETF, effective September 30. This means that shareholders will receive two additional shares for every one they currently hold, effectively tripling the number of shares in existence.
The split aims to make the fund's shares more accessible and affordable for retail investors. The total value of each investor's position remains unchanged, but the per-share price is expected to drop to roughly a third of its current level.
The Zcash ETF has seen significant growth since its conversion from a trust structure on August 25, with over $233 million in net inflows and approximately $890 million in net assets as of September 17. The underlying asset, ZEC, has also been on a tear, with recent prices ranging between $1,478 and $1,521, representing an approximately 25% gain over the past week.
The protocol upgrade, known as NU7, is scheduled for November 5, which aims to reduce block times on the Zcash network. This could further boost investor interest in the fund and underlying asset.