Grayscale is splitting its Zcash exchange-traded fund shares three ways after the product attracted more than $233 million in less than a month, according to Decrypt. The move is intended to make the fund more affordable, while demand from Wall Street has made it one of the most closely watched crypto-focused ETF products. The fund provides market exposure linked to Zcash (ZEC), a cryptocurrency associated with privacy-focused transactions. Decrypt described the ETF as the hottest privacy trade in crypto as investors continued to commit capital shortly after its launch. The share split changes the number of shares held by investors without altering the total value of their position at the time of the split, based on the mechanics of a three-for-one split. The report did not provide a specific effective date or details on the ETF’s share price following the adjustment.
