Zcash ETF sets 3-for-1 share split for Sept 30

Zcash ETF plans a 3-for-1 forward share split in late September 2026, keeping investor value unchanged while tripling share count and lowering price per share.

Rhea-AI Filing Summary

Zcash ETF (ZCSH) announced a 3-for-1 forward share split of its shares. The split applies to shareholders of record as of market close on September 28, 2026, is payable after market close on September 29, 2026, and is effective prior to the market open on September 30, 2026.

The split is expected to reduce the price per share while increasing the number of shares outstanding proportionately, so the total value of each shareholder’s investment remains the same. Each pre-split share will become three post-split shares, each representing approximately one-third of the prior NAV per share, and the ticker ZCSH and CUSIP will remain unchanged.

8-K Event Classification

2 items: 8.01, 9.01

2 items

Item 8.01 Other Events Other

Voluntary disclosure of events the company deems important to shareholders but not covered by other items.

Item 9.01 Financial Statements and Exhibits Exhibits

Financial statements, pro forma financial information, or exhibit attachments filed with this report.

Key Figures

Forward share split ratio: 3-for-1 Record Date: September 28, 2026 Payment Date: September 29, 2026 +3 more

6 metrics

Forward share split ratio 3-for-1 Forward share split of Zcash ETF shares announced for late September 2026

Record Date September 28, 2026 Shareholders of record on this date are entitled to the split shares

Payment Date September 29, 2026 Two additional shares per pre-split share distributed after market close

Effective trading date (post-split) September 30, 2026 ZCSH begins trading on NYSE Arca, Inc. on a split-adjusted basis

Hypothetical pre-split example 10 shares at $300 NAV per share = $3,000 Illustration of holding value before a 3-for-1 split

Hypothetical post-split example 30 shares at $100 NAV per share = $3,000 Illustration showing total value unchanged after the split

Key Terms

forward share split, NAV per Share, Investment Company Act of 1940, digital assets

4 terms

forward share split financial

"announcing a 3-for-1 forward share split (the “Forward Split”) of the Fund’s shares"

A forward share split increases the number of a company's outstanding shares by swapping each existing share for multiple new shares (for example, one share becomes two or more), like cutting a cake into more pieces without changing the cake's total size. It lowers the price per share while leaving the company's overall market value the same, which can make stock easier to buy, improve trading activity, and change per‑share metrics investors watch, such as earnings per share and index weights.

NAV per Share financial

"NAV per Share is expected to be approximately one-third of the NAV per Share"

NAV per share is the value of a fund or company's assets minus its liabilities, divided by the number of shares outstanding — think of it as the price of one slice of a pie made from all the holdings. Investors use it to judge whether a share’s market price is fair: if the market price is lower than NAV per share, shares may be trading at a discount; if higher, at a premium.

Investment Company Act of 1940 regulatory

"The Zcash ETF is not registered under the Investment Company Act of 1940"

A U.S. federal law that sets the rulebook for pooled investment vehicles such as mutual funds, exchange-traded funds and similar money managers, requiring them to register with regulators, disclose holdings and fees, limit conflicts of interest, and follow governance standards. It matters to investors because these protections and transparency rules act like a referee and scoreboard, helping people compare funds, trust that managers follow fair practices, and spot hidden costs or risks.

digital assets financial

"Grayscale is the world’s largest digital asset-focused investment platform"

Digital assets are electronic files or representations of value stored electronically, such as cryptocurrencies, digital tokens, or digital art. They matter to investors because they can be bought, sold, and used for transactions much like physical assets, but exist entirely in digital form, offering new opportunities for investment and financial innovation.

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What share split did Zcash ETF (ZCSH) announce?

Zcash ETF announced a 3-for-1 forward share split. Each pre-split share will become three post-split shares, with the total value of a shareholder’s investment remaining the same and each new share representing about one-third of the prior NAV per share.

When are the record, payment, and effective dates for the ZCSH share split?

The record date is September 28, 2026, the payment date is September 29, 2026, and the split is effective prior to market open on September 30, 2026, when ZCSH begins trading on a split-adjusted basis.

How will the 3-for-1 split affect Zcash ETF (ZCSH) share price and NAV?

The split is expected to decrease the price per share and NAV per share to roughly one-third of pre-split levels, while tripling the number of shares outstanding so the total investment value stays unchanged for each shareholder.

Will the Zcash ETF (ZCSH) ticker or CUSIP change after the split?

No. Following the 3-for-1 forward share split, Zcash ETF shares will continue to trade under the ticker ZCSH on NYSE Arca, Inc., and the CUSIP number will remain unchanged.

Does the Zcash ETF 3-for-1 split change a shareholder’s total investment value?

No. The Fund states that the Forward Split will not change the total value of a shareholder’s investment. Shareholders will own more shares at a proportionally lower price and NAV per share, leaving the overall value the same.

Is the Zcash ETF (ZCSH) registered under the Investment Company Act of 1940?

No. The Zcash ETF is not registered under the Investment Company Act of 1940 and therefore is not subject to the same regulations and protections as 1940 Act-registered ETFs and mutual funds.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Available on EDGAR 09/18/2026 - 08:04 AM Accepted by SEC EDGAR 09/18/2026 - 08:03 AM Learn about SEC filing dates

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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): September 18, 2026

The Zcash ETF

(Exact name of Registrant as Specified in Its Charter)

Delaware			001-43458	82-6646113
(State or Other Jurisdiction of Incorporation)			(Commission File Number)	(IRS Employer Identification No.)
c/o Grayscale Investments Sponsors, LLC 290 Harbor Drive, 4th Floor
Stamford, Connecticut				06902
(Address of Principal Executive Offices)				(Zip Code)

Registrant’s Telephone Number, Including Area Code: 212 668-1427

N/A

(Former Name or Former Address, if Changed Since Last Report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

	☐	Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
	☐	Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
	☐	Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
	☐	Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each class		Trading Symbol(s)		Name of each exchange on which registered
The Zcash ETF Shares		ZCSH		NYSE Arca, Inc.

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§ 230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§ 240.12b-2 of this chapter).

Emerging growth company ☒

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Item 8.01. Other Events.

Forward Share Split

On September 18, 2026, Grayscale Investments Sponsors, LLC, the sponsor (the “Sponsor”) of The Zcash ETF (the “Fund”), issued a press release announcing a 3-for-1 forward share split (the “Forward Split”) of the Fund’s shares (the “Shares”).

The Forward Split will apply to shareholders of record as of the close of the market on September 28, 2026 (the “Record Date”) and will be payable after the close of the market on September 29, 2026 (the “Payment Date”). The Forward Split will be effective prior to the market open on September 30, 2026 (the “Effective Date”) when the Shares will begin trading on NYSE Arca, Inc. on a split-adjusted basis. Following the Forward Split, the Shares will continue to trade under the ticker symbol “ZCSH” and the CUSIP number for the Shares will remain unchanged.

The Forward Split is expected to decrease the price per share of the Fund with a proportionate increase in the number of Shares outstanding. As a result of the Forward Split, holders as of the Record Date will receive two additional Shares, to be distributed on the Payment Date. Immediately following the Forward Split, the NAV per Share is expected to be approximately one-third of the NAV per Share immediately before the Forward Split.

A copy of Grayscale’s press release is attached as Exhibit 99.1 to this Current Report on Form 8-K and is incorporated by reference herein.

Item 9.01. Financial Statements and Exhibits.

(d) Exhibits

Exhibit No.		Description
99.1		Press Release, dated as of September 18, 2026, of Grayscale.
104		Cover Page Interactive Data File (the cover page XBRL tags are embedded within the inline XBRL document).

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.

			Grayscale Investments Sponsors, LLC, as Sponsor of The Zcash ETF
Date:	September 18, 2026	By:	/s/ Kathryn Masci
			Name: Kathryn Masci Title: Interim Chief Financial Officer*

* The Registrant is a trust and the identified person signing this report is signing in their capacity as an authorized officer of Grayscale Investments Sponsors, LLC, the Sponsor of the Registrant.

Exhibit 99.1

The Zcash ETF (Ticker: ZCSH), Built By Grayscale, Announces Intention to Effect 3:1 Share Split

Shareholders of record will receive three post-split shares for every one pre-split share of ZCSH they own

STAMFORD, Conn., September 18, 2026 -- The Zcash ETF (Ticker: ZCSH) (the “Fund”), built by Grayscale, today announced its intention to effect a 3-for-1 forward share split of the Fund (the “Forward Split”). The Forward Split will not change the total value of a shareholder’s investment. The details are as follows:

Product	Split Ratio
The Zcash ETF (NYSE Arca: ZCSH)	3-for-1

The Forward Split will apply to shareholders of record as of market close on September 28, 2026 (the “Record Date”), payable after market close on September 29, 2026 (the “Payment Date”). The shares are expected to begin trading on a post-split basis prior to market open on September 30, 2026, the effective date. Following the Forward Split, the Fund’s shares will continue to trade on NYSE Arca, Inc. under the symbol “ZCSH” and its CUSIP number will remain unchanged.

The Forward Split is expected to decrease the price per share of the Fund, with a proportionate increase in the number of shares outstanding. As a result of the Forward Split, holders as of the Record Date will receive two additional shares, to be distributed on the Payment Date. As a result, every one pre-split share of ZCSH will result in three post-split shares of ZCSH, each representing ownership in approximately one-third of the NAV per share of a pre-split share.

Illustration of Forward Share Split

The following table shows the effect of a hypothetical 3-for-1 share split:

Period	Number of Shares Owned	Hypothetical NAV per Share	Value of Shares
Pre-Split	10	$300	$3,000
Post-Split	30	$100	$3,000

For illustrative purposes only

For more information visit TheZcashETF.com

About Grayscale Grayscale is the world’s largest digital asset-focused investment platform with a mission to make digital asset investing simpler and open to all investors. Founded in 2013,

Exhibit 99.1

Grayscale has been at the forefront of bringing digital assets into the mainstream. The firm has a long history of firsts, including launching the first Bitcoin and Ethereum exchange traded products in the United States. Grayscale continues to pioneer the asset class by providing investors, advisors, and institutional allocators with access to a broad range of digital assets through a comprehensive suite of investment products spanning ETFs, private funds, and diversified strategies. For more information, please follow @Grayscale or visit grayscale.com.

This press release and the documents incorporated by reference herein contain "forward-looking statements" with respect to the Fund’s financial conditions, results of operations, plans, objectives, future performance and business. All statements (other than statements of historical fact) included in or incorporated by reference into this press release that address activities, events or developments that will or may occur in the future are forward-looking statements. These statements are only predictions. Actual events or results may differ materially from such statements. Investors are therefore cautioned against relying on forward-looking statements. You should specifically consider the numerous risks described in our Annual Report on Form 10-K for the fiscal year ended December 31, 2025, in any subsequent Quarterly Reports on Form 10-Q, in any applicable prospectus supplement and in the other documents incorporated or deemed incorporated by reference herein.

Media Contact press@grayscale.com

Client Contact 866-775-0313 info@grayscale.com

Click here for The Zcash ETF prospectus. Please read the prospectus carefully before investing.

The Zcash ETF (the “Fund”) is not registered under the Investment Company Act of 1940 (the “1940 Act”) and therefore is not subject to the same regulations and protections as 1940 Act registered ETFs and mutual funds.

Investing in digital assets involves significant risk and heightened volatility, including possible loss of principal. An investment in the Fund is not suitable for all investors, may be deemed speculative and is not intended as a complete investment program. An investment should be considered only by persons who can bear the risk of total loss associated with an investment in the Fund.

This press release is not an offer to sell or the solicitation of an offer to buy any security in any jurisdiction where such an offer or solicitation would be illegal, nor shall there be any sale of any security in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of that jurisdiction.

Exhibit 99.1

This information should not be relied upon as research, investment advice, or a recommendation regarding any products, strategies, or any security in particular. This material is strictly for illustrative, educational, or informational purposes and is subject to change.

© 2026 Grayscale. All trademarks, service marks and/or trade names (e.g., G™, GRAYSCALE®, GRAYSCALE CRYPTO SECTORS™, and GRAYSCALE INVESTMENTS®) are owned and/or registered by Grayscale.

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Filing Exhibits & Attachments

2 documents

Press Releases

• EX-99.1 EX-99.1 26.9 KB

Other Documents

• EX-101 XBRL TAXONOMY EXTENSION SCHEMA WITH EMBEDDED LINKBASES DOCUMENT 28.0 KB