Grayscale Zcash ETF plans 3-for-1 split after strong inflows

Grayscale Zcash ETF to split shares three-for-one

Grayscale has announced that its Zcash ETF (ZCSH) will undergo a 3-for-1 share split, a move made less than a month after the fund began trading on the NYSE. The split means that shareholders will receive two additional shares for every one share they currently own.

According to a filing with the Securities and Exchange Commission, the split will take effect at the market close on September 28. New shares will be distributed after the market close on September 29, and trading with split-adjusted prices will begin on September 30.

Investor interest drives $233 million into fund

• Investors have poured over $233 million into the ZCSH ETF since its launch on August 25, 2026.
• The fund saw significant inflows recently, including $46.6 million on Wednesday and more than $112 million on September 8.
• As of September 17, the fund held approximately $890 million in net assets and had generated over $11 billion in cumulative trading volume.

Zcash network sees record mining activity

The growth of the ETF coincides with a surge in activity on the Zcash network. The price of ZEC climbed to a new effective all-time high of $1,521 early Friday. This rally has also attracted more computing power to the network, with estimated network hashrate (solrate) rising from about 25 GSol/s in late August to just under 32 GSol/s. This represents an increase of nearly 28%, according to Zcash Info.

As more miners enter the network, the difficulty of mining Zcash has also reached a record high of about 291 million. The increased competition is affecting miner revenue; the estimated gross revenue for Bitmain's Z15 Pro has dropped below late-August levels, even as the ZEC price rises, because the block rewards are divided among a larger amount of computing power.

Sources

• The Block

Read also: Grayscale Zcash ETF Announces 3-for-1 Share Split to Lower Entry Price