Zcash ETF (ZCSH) SEC Filings

Zcash ETF (ZCSH) reported that assets under management have grown to more than $500 million roughly two weeks after its August 25, 2026 NYSE Arca launch, coinciding with the start of options trading on NYSE Arca that provides additional exchange-traded tools for ZEC exposure.

On September 8, 2026, DCG International Investments Ltd., an affiliate of the Fund’s sponsor, acquired ZCSH shares with an aggregate value of approximately $100 million through an Authorized Participant in exchange for 85,705.32563297 ZEC. The Fund also cited cumulative inflows of more than $70 million since launch, excluding the affiliate’s investment, and noted that its shares are economically the same as other Fund shares.

The Zcash ETF (ZCSH), formerly Grayscale Zcash Trust (ZEC), is a Delaware statutory trust that issues exchange-listed Shares representing fractional undivided beneficial interests in ZEC held by the trust. The Shares are approved for listing on NYSE Arca under the symbol ZCSH, transitioning from OTCQX.

The trust offers and redeems Shares continuously in Baskets of 10,000 Shares, primarily with Authorized Participants via in‑kind ZEC or cash orders, using a non‑GAAP Index Price from the CoinDesk Zcash Benchmark Rate to determine NAV for operational purposes. The objective is for Share value to track the value of ZEC held, less expenses, without leverage or derivatives.

As of June 30, 2026, the trust held about 2.3% of ZEC in circulation; historically the Shares have traded at substantial premiums and discounts to NAV, though listing and an arbitrage mechanism are expected to keep prices closer to NAV. Coinbase entities act as prime broker and custodian, holding ZEC largely in segregated cold storage, with insurance and Article 8 "financial asset" treatment, subject to contractual liability caps. The sponsor is in non‑binding discussions for a potential contribution of approximately 200,000 ZEC via a DCG affiliate. The product is not an Investment Company Act fund or a CFTC‑regulated commodity pool and is classified as an emerging growth company with reduced reporting requirements.

The Zcash ETF (ZCSH), a Delaware statutory trust formerly known as Grayscale Zcash Trust (ZEC), is registering an indeterminate number of Shares for continuous issuance on NYSE Arca, where each Share represents fractional beneficial ownership of ZEC held by the Trust. The Shares are created and redeemed in Baskets of 10,000 Shares, generally in exchange for ZEC or cash via Authorized Participants, with a Basket Amount tied to the Trust’s ZEC per Share and the Index Price. The investment objective is for the Share value to track the value of ZEC held, less expenses and liabilities, without leverage or derivatives. As of June 30, 2026, ZEC had a circulating supply of 16.7 million and a market value of $6.7 billion, and the Trust held about 2.3% of ZEC in circulation. The Shares have been approved for listing on NYSE Arca under the symbol ZCSH, after previously trading on OTCQX, where they historically traded at substantial premiums and discounts to NAV per Share.

Grayscale Zcash Trust (ZEC) (symbol ZCSH) filed Post-Effective Amendment No. 1 to its Form S-3 registration statement for The Zcash ETF under Rule 462(d). The amendment is limited in scope and is being used solely to file additional exhibits to the existing registration statement.

The new exhibits are a Certificate of Amendment to the Certificate of Trust and an Amendment No. 1 to the Second Amended and Restated Declaration of Trust and Trust Agreement. The amendment states that it does not modify any provisions of Part I or Part II other than adding these exhibits and becomes effective immediately upon filing. It is signed on behalf of the registrant by officers and managers of Grayscale Investments Sponsors, LLC, including Interim Chief Financial Officer Kathryn Masci and Chief Executive Officer Peter Mintzberg.

Grayscale Zcash Trust (ZEC) (symbol ZCSH) reports that its sponsor, Grayscale Investments Sponsors, LLC, announced the Shares are anticipated to begin trading on NYSE Arca on or about August 25, 2026 (the “Uplisting Date”), under the trading symbol “ZCSH,” subject to the receipt of certain regulatory approvals. The sponsor states that no assurance can be given that the Shares will list and trade on this anticipated timeline, or at all.

The sponsor also announced its intention to change the registrant’s name to The Zcash ETF, effective on or about August 25, 2026, again subject to regulatory approvals, and to amend the Second Amended and Restated Declaration of Trust and Trust Agreement to reflect the new name. Existing stock certificates will remain valid and do not need to be exchanged.

Grayscale Zcash Trust (ZEC) (symbol ZCSH) is filing an Amendment No. 5 to a shelf registration on Form S‑3 to support a continuous primary offering of an indeterminate number of Shares, and to transition the product into an exchange-traded format listed on NYSE Arca under “ZCSH.” The Delaware statutory trust holds Zcash (“ZEC”) and seeks for its Share value, based on ZEC per Share, to track the CoinDesk Zcash Benchmark Rate Index Price less expenses, without leverage or derivatives.

In connection with effectiveness and listing, the sponsor plans to rename the vehicle The Zcash ETF. Creations and redemptions occur in 10,000‑Share Baskets via Authorized Participants using cash orders and in‑kind creations (involving ZEC), with redemptions currently limited to cash. The trust historically traded on OTCQX at substantial premiums and discounts to NAV; the sponsor expects NYSE Arca arbitrage to keep market price closer to NAV.

The trust holds about 2.3% of ZEC in circulation, is treated as an emerging growth company, is not registered under the Investment Company Act, and the sponsor believes it is not a commodity pool under the CEA. A non‑binding potential contribution arrangement contemplates a DCG affiliate delivering approximately 200,000 ZEC for Shares via an Authorized Participant, with related resale registration rights.

Grayscale Zcash Trust (ZEC) is registering an indeterminate number of Shares for continuous issuance and intends to list them on NYSE Arca under the symbol ZCSH. Each Share is a common unit of fractional undivided beneficial interest in a Delaware statutory trust whose sole purpose is to hold Zcash (ZEC). The investment objective is for the Share value, based on ZEC per Share, to track the value of ZEC held by the Trust, by reference to the Index Price, less expenses and liabilities.

Shares are created and redeemed only in Baskets of 10,000 Shares through Authorized Participants using in-kind ZEC transfers and cash-based orders, with redemptions currently conducted only in cash. The Trust relies on Coinbase entities as prime broker and custodian, using segregated cold-storage vault accounts and omnibus settlement balances, with contractual limits on rehypothecation and defined liability caps.

The Trust historically traded on OTCQX as ZCSH at substantial premiums and discounts to NAV; between October 18, 2021 and June 30, 2026, the maximum premium was 240% and the maximum discount 55%. Management expects NYSE Arca listing and an arbitrage mechanism to keep trading prices closer to NAV. The Trust is an emerging growth company and is not registered under the Investment Company Act or regulated as a commodity pool.

Grayscale Zcash Trust (ZEC) is a passive vehicle that holds Zcash (ZEC) and seeks for its Shares to reflect the value of its ZEC holdings, less expenses. As of June 30, 2026, it held 388,673.68 ZEC valued at $155.3 million, down from $200.4 million at December 31, 2025. With 4,829,300 Shares outstanding, the Principal Market NAV per Share was $32.15, versus $41.51 year-end. For Q2 2026, rising ZEC prices from $254.27 to $399.44 generated $56.9 million of realized and unrealized gains and a $55.8 million net increase in net assets, yet for the first half overall net assets declined 23% due to earlier price weakness.

The Trust charges a 2.5% annual Sponsor’s Fee, accrued daily and paid in ZEC, which steadily reduces the ZEC represented by each Share (about 0.0805 ZEC per Share at June 30, 2026). It currently offers creations but no shareholder redemption program, and its results are highly sensitive to ZEC’s volatility, with all assets concentrated in ZEC and no leverage or derivatives. The Sponsor reports effective disclosure controls, no Additional Trust Expenses in the period, and no material changes in legal proceedings or risk factors.