Grayscales Zcash ETF will undergo a 3-for-1 share split as ZEC extends its sharp weekly advance. The fund will issue two additional shares for every share held on the September 28 record date. The split will take effect before trading opens on September 30, according to a September 18 SEC filing.
ZCSH Split Sets New Trading Structure
The adjustment will reduce ZCSH‘s per-share value while leaving each investor’s total position unchanged. Hence, shareholders will own three shares for each original share after the split.
Additionally, ZCSH will retain its ticker and NYSE Arca listing following the adjustment. The fund will distribute the additional shares after the September 29 market close.
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ZEC Rally Draws More Mining Power
Meanwhile, Zcash has attracted significantly more mining activity during its latest price surge. Network solrate increased from roughly 25 GSol/s in late August to nearly 32 GSol/s.
Mining difficulty also reached about 291 million, marking another record. Consequently, miners now compete for rewards across greater computing capacity.
However, higher competition can pressure individual mining returns even when ZEC prices rise. ZEC trades around $1,478.30, down 0.33% today but up 24.80% over seven days.
Moreover, its market capitalization stands near $25.05 billion, based on 17 million circulating ZEC.
Related: Who Should Decide Zcashs Future: Tokenholders, Delegates, or Funders？