Overview
- Grayscale filed a 3-for-1 forward split for its Zcash spot ETF ZCSH that will record shareholders on Sept. 28, distribute additional shares after market close on Sept. 29, and begin split-adjusted trading on Sept. 30.
- The fund has grown rapidly since its late‑August launch and now holds roughly $914 million in net assets as ZEC roughly doubled to about $1,500, increasing the value of tokens already inside the vehicle.
- Trading on ZCSH has been outsized for a new product, accounting for about one-third of spot crypto ETF turnover in a single week with a single session on Sept. 16 producing roughly $11 billion of intraday volume.
- Derivatives exposure has climbed with ZEC futures open interest near an all‑time high of about $3.5 billion and futures volumes topping $10 billion, which raises the market’s sensitivity to sharp reversals and forced liquidations.
- Separately, recent advisory votes favored keeping Zcash’s halving schedule and advancing NU7 but those results require developer action, and earlier disclosures about a patched shielded‑pool flaw plus potential related‑party token transfers leave outstanding questions about supply provenance and security.