Grayscale Discloses Talks Over 200,000 ZEC Contribution to Zcash Trust From DCG Unit

Meanwhile, ZEC exploded by over 11% in the past 24 hours to exceed $560. Grayscale has disclosed discussions with a Digital Currency Group (DCG) subsidiary over a contribution of roughly 200,000 ZEC to its Zcash Trust, in an August 18 amendment to the registration statement that would move the fund onto NYSE Arca. Grayscale Investments Sponsors, the trust’s sponsor, said it is in discussions with DCG International Investments Ltd. for the unit to acquire shares through an authorized participant in exchange for the tokens. The filing adds that “because these discussions are not binding agreements or commitments to purchase, the Potential Investor could determine to purchase more, fewer, or no Shares.” Moreover, the trust intends to list under the ticker ZCSH, which already carries its shares on OTCQX. Net asset value was $155.2 million on June 30, when the trust held about 2.3% of circulating ZEC, and shares closed at $36.6 on August 12 at a 7% discount to NAV per share. Since October 2021, the shares have been quoted at a discount on 700 days, with a maximum discount of 55% and a maximum premium of 240%, though the SEC has not approved or disapproved the shares. DCG Sits on Both Si...