Grayscale's Zcash ETF Undergoes 3-to-1 Share Split

Grayscale's Zcash (ZEC) physical ETF, The Zcash ETF (ZCSH), will undergo a 3-to-1 split of its outstanding shares on September 28. According to Grayscale's announcement on September 18, the split is expected to affect all holders registered in the company's shareholder records by that date.

The split will take place after market close on September 29, with each shareholder receiving two additional shares for every one they currently hold. As a result of the split, the number of outstanding ZCSH shares will triple, but the net asset value (NAV) per share is expected to decrease from $300 to $100.

Grayscale has provided an example to illustrate the change in value: if a shareholder holds 10 shares with a NAV of $300 each before the split, their total holdings would be worth $3,000. After the split, they will hold 30 shares with a NAV of $100 each, but their total holding value remains at $3,000.