Grayscale disclosed discussions with a subsidiary of Digital Currency Group (DCG) regarding a contribution of approximately 200,000 Zcash (ZEC) tokens to its Zcash Trust, as part of a plan to transfer the fund from OTCQX to NYSE Arca. DCG could take a majority stake in the trust if the contribution is completed, while also mining ZEC through its subsidiaries Fortitude Mining and Foundry Digital, which controls approximately 15.4% of the network’s hash rate. The trust’s net asset value stood at $155.2 million on June 30, representing approximately 2.3% of circulating ZEC. ZEC traded at $550.78 on August 19, with a market capitalization of $9.3 billion. Coinbase Custody holds the ZEC and Coinbase serves as the prime broker.
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