Grayscale is making the Zcash ETF more accessible

ZCSH Announces 3-for-1 Forward Share Split

@Grayscale's Zcash ETF ($ZCSH) is set to become more accessible to a broader range of investors after @ZcashETF formally announced a 3-for-1 forward share split. The fund announced its intention to effect a 3-for-1 forward share split, with the goal of lowering the per-share price and widening participation.

The split will apply to shareholders of record as of market close on September 28, 2026, and shares are expected to begin trading on a post-split basis before market open on September 30, 2026. Shareholders of record will receive three post-split shares for every one pre-split share of $ZCSH they own, with each new share representing approximately one-third of the pre-split NAV per share.

Crucially, the forward split will not change the total value of a shareholder's investment. Following the split, the fund's shares will continue to trade on NYSE Arca under the symbol "ZCSH" and its CUSIP number will remain unchanged.

Rapid AUM Growth Drives the Decision

The split follows a period of strong growth for the fund since its NYSE Arca debut. The Zcash ETF surpassed $500 million in AUM, marking a significant milestone two weeks after its August 25, 2026 launch on NYSE Arca. This increase in assets coincided with the launch of ZCSH options trading on NYSE Arca, giving investors exchange-traded tools to manage risk and generate income.

The AUM figure, however, carries an important caveat. Approximately $100 million of the total resulted from DCG International Investments Ltd. acquiring ZCSH shares through an authorized participant in exchange for 85,705 ZEC tokens. Genuine third-party demand for the first U.S. spot Zcash ETF ran a little over $70 million in the fund's first fortnight.

ZCSH is the first ETF dedicated to Zcash, making it the first ETF to focus on a privacy-dedicated token. Zcash is a leading privacy-focused digital currency, offering investors financial privacy that is largely absent from existing crypto product lineups, with an architecture that lets users choose whether transaction details remain shielded or disclosed.

Sources:
GlobeNewswire: The Zcash ETF Announces Intention to Effect 3:1 Share Split
GlobeNewswire: The Zcash ETF Grows AUM to More Than $500 Million Following NYSE Arca Debut
SEC Filing: Zcash ETF Form 8-K, Share Split Announcement