Key Takeaways
- • The Zcash ETF (NYSE Arca: ZCSH), built by Grayscale, completed its previously announced 3-for-1 forward share split, effective before market open on September 30, 2026.
- • Shareholders of record as of market close on September 28, 2026 received two additional shares for each pre-split share, distributed after market close on September 29, 2026.
- • The split was value-neutral: each pre-split share became three post-split shares, each representing roughly one-third of the prior NAV per share, leaving total investment value unchanged.
- • The ticker and CUSIP are unchanged, and the Fund continues to trade on NYSE Arca under ZCSH.
- • The Fund is an ETP, not a 40 Act registered investment company, and the release warns of significant volatility and risk of total loss.
Summary
Grayscale announced on September 30, 2026 that The Zcash ETF (NYSE Arca: ZCSH) has completed its previously announced 3-for-1 forward share split (the "Forward Split"). According to the company's GlobeNewswire release, the split became effective prior to market open on September 30, 2026, and the Fund's shares began trading on a post-split basis that day.
Shareholders of record at market close on September 28, 2026 received two additional shares for every one pre-split share held. The distribution was made after market close on September 29, 2026. Each pre-split share therefore became three post-split shares, each representing approximately one-third of the pre-split net asset value (NAV) per share. Grayscale states that the Forward Split did not change the total value of a shareholder's investment. The release's illustrative example shows 10 pre-split shares at a hypothetical NAV of $300 per share ($3,000 total) becoming 30 post-split shares at $100 per share, again totaling $3,000.
The Fund continues to trade on NYSE Arca under the symbol ZCSH, and its CUSIP number is unchanged. Grayscale describes itself as the world's largest digital asset-focused investment platform, founded in 2013, and notes it launched the first Bitcoin and Ethereum exchange-traded products in the United States. Foreside Fund Services, LLC is the marketing agent for ZCSH.
The release includes material risk disclosures. The Zcash ETF is an exchange-traded product (ETP) and not an investment company registered under the Investment Company Act of 1940, so it is not subject to the same regulations and protections as 40 Act registered ETFs and mutual funds. Grayscale states that an investment in the Fund is not a direct investment in ZEC, the native Zcash token, and warns of heightened volatility, the possibility of losing the entire investment, and concentrated ownership risks in digital asset markets. Investors are directed to the Fund's prospectus, available at TheZcashETF.com.
Shareholders of record at market close on September 28, 2026 received two additional shares for every one pre-split share held. The distribution was made after market close on September 29, 2026. Each pre-split share therefore became three post-split shares, each representing approximately one-third of the pre-split net asset value (NAV) per share. Grayscale states that the Forward Split did not change the total value of a shareholder's investment. The release's illustrative example shows 10 pre-split shares at a hypothetical NAV of $300 per share ($3,000 total) becoming 30 post-split shares at $100 per share, again totaling $3,000.
The Fund continues to trade on NYSE Arca under the symbol ZCSH, and its CUSIP number is unchanged. Grayscale describes itself as the world's largest digital asset-focused investment platform, founded in 2013, and notes it launched the first Bitcoin and Ethereum exchange-traded products in the United States. Foreside Fund Services, LLC is the marketing agent for ZCSH.
The release includes material risk disclosures. The Zcash ETF is an exchange-traded product (ETP) and not an investment company registered under the Investment Company Act of 1940, so it is not subject to the same regulations and protections as 40 Act registered ETFs and mutual funds. Grayscale states that an investment in the Fund is not a direct investment in ZEC, the native Zcash token, and warns of heightened volatility, the possibility of losing the entire investment, and concentrated ownership risks in digital asset markets. Investors are directed to the Fund's prospectus, available at TheZcashETF.com.
Go deeper than the headline
Research every firm in this story, track the ones that matter and get the daily briefing — free for 7 days.