Grayscale’s Zcash ETF to Undergo 3-for-1 Forward Share Split

Grayscale has filed with the Securities and Exchange Commission to conduct a 3-for-1 forward share split for its Zcash ETF, according to regulatory documents. Shareholders will receive two extra shares for every share they currently hold when the split takes effect at the close of trading on September 28.

How the Split Will Work

The forward split will lower the price per individual share while proportionally increasing the total number of shares outstanding, keeping each investor’s overall holding value unchanged. For example, an investor holding 10 shares valued at $300 each, totaling $3,000, would instead hold 30 shares valued at $100 each after the split, with the total value remaining the same.

Grayscale said the move is designed to make the fund more accessible to a broader range of investors, particularly after Zcash’s underlying token surged roughly 2,800% over the past year, pushing its per-share price to levels seen as a barrier for smaller investors.

Zcash’s Remarkable Price Run Continues

The announcement comes amid a broader surge in interest around Zcash, a cryptocurrency that allows users to conduct shielded transactions concealing both addresses and amounts using zero-knowledge proof technology. Earlier in the week, the token jumped roughly 20% in a single day after a prominent crypto investment firm co-founder disclosed a significant purchase, describing Zcash as a private complement to bitcoin and emphasizing the importance of continued funding for its development given rising concerns around AI-driven cyber threats and quantum computing risks.

New All-Time High Reached

Zcash’s token price climbed as high as $1,521 earlier in the week, marking a new effective all time high, before pulling back slightly. The token has also drawn attention following a recent community vote to reduce its network’s block times as part of an upcoming technical upgrade planned for November.