The fund will execute a forward stock split effective September 30, 2026, to increase liquidity and lower the purchase price for retail investors. Grayscale's Zcash ETF has recorded $890 million in net assets and $11 billion in cumulative trading volume since its New York Stock Exchange debut. This corporate action follows a price rally in the underlying Zcash token, which reached a record all-time high above $1,521.

The token's surge forced losses on short sellers, including the largest ZEC short, Garrett Jin, who currently holds an unrealized loss of $33.66 million. Another trader closed a short position for a $10.68 million loss after the price hit $1,550. Other privacy coins, such as Zano and Firo, also began trending as ZEC's value climbed above $1,500.