Zcash ETF Heads for 3-for-1 Split After $233M Inflow Surge

Grayscale’s Zcash ETF is heading into a 3-for-1 forward share split after attracting more than $233 million in cumulative inflows less than a month after its launch.

According to an SEC filing, shareholders of record at the close of trading on Sept. 28 will receive two additional ZCSH shares for every share they already own. The new shares will be distributed after market close on Sept. 29, with split-adjusted trading beginning before the market opens on Sept. 30.

The split does not increase the value of an investor’s position. Instead, it lowers the price per share while proportionally increasing the number of shares outstanding.

ZCSH Has Grown Faster Than Expected

The timing is notable because ZCSH only began trading on NYSE Arca on Aug. 25.

Since then, investors have poured more than $233 million into the fund, including roughly $112 million on Sept. 8 alone. As of Sept. 17, the ETF had grown to around $890 million in net assets and generated more than $11 billion in cumulative trading volume.

The demand has emerged alongside an explosive move in ZEC itself. Earlier this month, Zcash pushed above $1,200 as ETF demand, privacy-coin interest and short squeezes combined to accelerate the rally.