ZEC Surges to $1,521 Amid Grayscale Zcash ETF Split

The price of Zcash (ZEC) has surged to $1,521 after an impressive annual gain of 2,800%. This development follows Grayscale's announcement of a 3-for-1 forward share split for its Zcash ETF, effective on September 30.

Investors holding shares at the market close on September 28 will receive two additional shares for each existing share in their portfolio. The distribution of these additional shares is slated for after-hours on September 29, and trading reflecting the split adjustment will commence on September 30.

The ZCSH fund has accumulated over $233 million in total inflows since its market debut on August 25. Net assets under management have approached $890 million with cumulative trading exceeding $11 billion.