Grayscale Zcash ETF Reaches $1 Billion in AUM with Net Inflows Under 30%

ChainCatcher report, according to Bitcoin.com, Grayscale’s Zcash ETF (ZCSH) has reached a net asset value of $1 billion, with cumulative net inflows of $306.12 million, accounting for less than 30%. The fund began trading on NYSE Arca on August 25 and surpassed $500 million in assets within two weeks. ZCSH was renamed from the Grayscale Zcash Trust, which was established in October 2017 and held ZEC at the time of listing. The price of ZEC has approximately doubled since the ETF’s launch, driving growth in the fund’s asset size. DCG International Investments, Grayscale’s parent company, exchanged 85,705.32563297 ZEC for approximately $100 million in ZCSH shares; excluding this non-cash transaction, external new capital amounted to approximately $200 million. Grayscale will implement a 3-for-1 forward split prior to market open on September 30, applicable to holders of record as of the close of trading on September 28. After the split, the net asset value per share is expected to decline to approximately one-third of its previous level, while the number of shares will triple, with the total dollar value of holdings remaining unchanged.