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Following
ZEC Grayscale announced a 3-in-1 split for Zcash ETF (ZCSH)
Grayscale announced on September 18 that it plans to conduct a 3-in-1 forward split for its Zcash ETF (code: ZCSH). ZCSH is the first fund in the United States to track privacy coins. The move will triple the number of shares held by each holder while keeping the total value of their positions unchanged.
What a split means for holders
Grayscale said investors who plan to hold ZCSH at the close of trading on September 28 will receive two additional shares for every share they hold. The new shares will be distributed after the market closes on September 29. Post-split trading will begin before the market opens on September 30 (the effective date).
Previously, Grayscale converted its long-running Zcash trust into an ETF with the ticker symbol ZCSH and listed it on NYSE Arca on August 25. The fund is managed by Coinbase Custody and has an annual management fee of 2.5%, which is approximately ten times the fee of a spot Bitcoin ETF.
Grayscale said on September 8 that since its launch, its assets have exceeded US$500 million, up from approximately US$260 million at the beginning of its listing. According to an analysis published on September 17, most of the funds were old funds that had already existed in the trust before the conversion, of which approximately US$70 million were new external inflows, and another US$100 million came from allocations from DCG International Investments, a subsidiary of Grayscale's parent company Digital Currency Group.
As of early September, the fund held more than 550,000 ZECs, accounting for approximately 3% of the currency's total supply.
Detailed explanation of ZCSH operating mechanism
Zcash 允许用户在类似比特币的透明地址和隐藏发送者、接收者及交易金额的屏蔽地址之间进行选择。然而，分析文章指出，该基金仅将硬币存放在透明的 Coinbase 钱包中，因此每一笔持仓均可在公共区块链上公开查询。
据报道，一年前 ZEC 的交易价格接近 50 美元，而在 9 月 4 日突破了 1,000 美元大关。另有消息显示，在周四上涨约 20% 后，该币种的价格目前接近 1,500 美元。
