Zcash ETF (ZCSH) Announces 3-for-1 Forward Share Split

What Happened
Grayscale Investments Sponsors, LLC filed an 8-K reporting that The Zcash ETF (ZCSH) effected a 3-for-1 forward share split prior to market open on September 30, 2026. The record date was the close of market on September 28, 2026, and the Shares began trading on a split-adjusted basis on NYSE Arca at market open on September 30, 2026. A copy of Grayscale’s press release is attached as Exhibit 99.1 to the filing.

Key Details

• Shares outstanding increased from 7,989,300 to 23,967,900 following the 3-for-1 split.
• Net asset value (NAV) per Share changed from $111.41 pre-split to $37.14 post-split (proportional adjustment).
• Each shareholder of record as of the close of business on Sept 28, 2026 received two additional Shares for each Share held pre-split; trading on a split-adjusted basis began Sept 30, 2026.
• The Fund continues to trade under the ticker ZCSH on NYSE Arca and its CUSIP remains unchanged.

Why It Matters
A forward share split increases the number of shares and lowers the per-share NAV proportionally, but it does not change the total value of a shareholder’s investment. For investors, the split may make individual shares more affordable and could improve trading liquidity, while holdings and proportional ownership remain the same. No other financial results or management changes were reported in this filing.