Grayscale filed Amendment No. 4 to its S-3 registration statement on August 18, revealing that a Digital Currency Group subsidiary is negotiating to contribute approximately 200,000 ZEC tokens to the Grayscale Zcash Trust. This contribution, with an estimated notional value between $96 million and $111 million at recent trading prices, would represent more than 1% of Zcash’s circulating supply, which stands at roughly 16.8 million tokens. In exchange, DCG would receive shares in the Trust as part of Grayscale’s strategy to convert this product into a spot ETF listed on NYSE Arca under the ticker ZCSH. Coinbase remains the custodian of the Trust’s assets. The non-binding nature of the agreement means finalization remains subject to SEC regulatory approval and the NYSE Arca listing process.
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