🔥 Grayscale Is Making Its Red-Hot Zcash ETF More Affordable.
The fund, ticker ZCSH, filed to carry out a 3-for-1 forward share split on Friday, according to a filing with the U.S. Securities and Exchange Commission. Shareholders of record at the close of trading on Sept. 28 will receive two extra shares for every one they already hold. A forward split doesn't change what your investment is worth. It just slices each share into smaller pieces, the same way a $20 bill can become four $5 bills without changing the total in your wallet.
Grayscale's own example: 10 shares worth $300 each, or $3,000 total, become 30 shares worth $100 eachstill $3,000. Why is Grayscale doing this you ask? In a nutshell, Zcash got so expensive so fast, the coin rising more than 2,800% in the last year, that the ETF share is too high per unit. You can buy a fraction of a token on your favorite crypto exchange, but you cannot buy a fraction of a stock on your favorite broker. The Forward Split is expected to decrease the price per share of the Fund with a proportionate increase in the number of Shares outstanding, Grayscale says on the form. As a result of the Forward Split, holders as of the Record Date will receive two additional Shares, to be distributed on the Payment Date. Immediately following the Forward Split, the NAV per Share is expected to be approximately one-third of the NAV per Share immediately before the Forward Split. The new shares get paid out after market close on Sept.
❓ What's your take is this the start of a bigger move or just noise? Drop it below.
$BTC $ETH
#BitcoinETFInflows #SECryptoRegulation #AICryptoIntegration
The fund, ticker ZCSH, filed to carry out a 3-for-1 forward share split on Friday, according to a filing with the U.S. Securities and Exchange Commission. Shareholders of record at the close of trading on Sept. 28 will receive two extra shares for every one they already hold. A forward split doesn't change what your investment is worth. It just slices each share into smaller pieces, the same way a $20 bill can become four $5 bills without changing the total in your wallet.
Grayscale's own example: 10 shares worth $300 each, or $3,000 total, become 30 shares worth $100 eachstill $3,000. Why is Grayscale doing this you ask? In a nutshell, Zcash got so expensive so fast, the coin rising more than 2,800% in the last year, that the ETF share is too high per unit. You can buy a fraction of a token on your favorite crypto exchange, but you cannot buy a fraction of a stock on your favorite broker. The Forward Split is expected to decrease the price per share of the Fund with a proportionate increase in the number of Shares outstanding, Grayscale says on the form. As a result of the Forward Split, holders as of the Record Date will receive two additional Shares, to be distributed on the Payment Date. Immediately following the Forward Split, the NAV per Share is expected to be approximately one-third of the NAV per Share immediately before the Forward Split. The new shares get paid out after market close on Sept.
❓ What's your take is this the start of a bigger move or just noise? Drop it below.
$BTC $ETH
#BitcoinETFInflows #SECryptoRegulation #AICryptoIntegration