Grayscale Zcash Trust(OTC) ZCSH

Grayscale Zcash Trust lets investors gain exposure to Zcash, a digital asset. It holds Zcash securely, so investors avoid managing digital wallets.

The Trust’s shares are intended to reflect the value of its Zcash holdings, but have historically traded at both premiums and discounts to that value.

Products and Services

• Zcash Trust Shares: Each share represents a fractional interest in the Trust’s Zcash holdings (100% of activity).
• Cold Storage Custody: Zcash is stored offline by a third-party custodian for security.
• Daily NAV Reporting: The Trust publishes daily net asset value and Zcash per share on its website.
• Private Placement Issuance: New shares are created for accredited investors in exchange for Zcash deposits.
• OTCQX Trading: Shares are traded on the OTCQX market, not on a national exchange.

Growth and Expansion

• Filed to convert to an ETF and list on NYSE Arca in November 2025.
• Plans to rename as Grayscale Zcash Trust ETF after regulatory approval.
• Periodically issues new shares in blocks to accredited investors since inception.
• No acquisitions, partnerships, or international expansions reported to date.

What Makes Grayscale Zcash Trust Stand Out

The Trust offers direct Zcash exposure without requiring investors to manage digital wallets or private keys. It uses cold storage and a transparent fee structure, with all assets held in Zcash. Shares can trade at premiums or discounts to the underlying Zcash value due to limited redemption options.

Five Things You Need to Know

• Net assets rose to $200.4 million by December 31, 2025, up 809% from 2024.
• The Trust held 393,522 Zcash, about 2.4% of all Zcash in circulation, at year-end 2025.
• Sponsor’s Fee was $1.3 million in 2025, paid in Zcash.
• Shares traded at a 24% discount to net asset value as of December 31, 2025.
• No traditional revenue or profit; all value changes come from Zcash price movements.

Bottom Line

Grayscale Zcash Trust provides a simple way to access Zcash’s price movements through traditional investment channels. Its structure and fee model are designed for passive exposure, with all performance tied to Zcash’s market value.