Grayscale Cuts Zcash Spot ETF Share Price via Split After Surge in Inflows

CoinDesk reports that Grayscale is lowering the per-share price of its spot Zcash ETF by conducting a share split, after steady inflows over the past month quickly swelled assets under management and boosted demand for regulated exposure to privacy-focused cryptocurrencies. The fund, trading under the ticker ZCSH, began trading on August 25 and is described as the world's first spot ETF to directly hold Zcash (ZEC). It was converted from Grayscale's earlier Zcash Trust, which held about $313 million in ZEC at the time of conversion. As of September 17, ZCSH reported net assets of roughly $890 million. Since listing, cumulative net inflows have exceeded $233 million. Inflows have been concentrated, with a single-day net inflow reaching $46.6 million this week and $112 million on September 8. ZEC has also rallied alongside the ETF demand. Reports say ZEC rose as high as $1,521 during Friday's session, a level The Block characterized as a new "effective all-time high" for this segment of privacy coins. The ETF wrapper is also seen as reducing friction for retail participation, allowing investors to gain exposure to Zcash through a standard brokerage account without holding tokens in a crypto wallet. Zcash lets users choose whether transaction details are public or private, relying on zkSNARKs to validate payments without revealing the sender, recipient, or amount. Like Bitcoin, Zcash has a maximum supply of 21 million coins. The report added that Zcash has generally seen greater regulatory acceptance than other privacy coins such as Monero, which has been delisted by several major exchanges under law enforcement pressure, drawing renewed attention to Zcash's role in compliant investment products.