Company: ZCSH
Filing Date: 2025-03-07
Form Type: 10-K
Source: 0000950170-25-035469
Chunk: 290

Company: Grayscale Zcash Trust (ZEC)
Filing Date: 2025-03-07
Form: 10-K
Item: Item 7
Chunk 290
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 gain on investment in ZEC for the year was driven by ZEC price appreciation from $27.69 per ZEC as of December 31, 2023, to $56.12 per ZEC as of December 31, 2024. Net increase in net assets resulting from operations was $10,952 for the year ended December 31, 2024, which consisted of the net realized and unrealized gain on investment in ZEC, less the Sponsor’s Fee of $296. Net assets increased to $22,040 at December 31, 2024, a 146% increase for the year. The increase in net assets resulted from the aforementioned ZEC price appreciation and the contribution of approximately 78,192 ZEC with a value of $2,127 to the Trust in connection with Share creations during the period, partially offset by the withdrawal of approximately 9,083 ZEC to pay the foregoing Sponsor’s Fee.

Net realized and unrealized loss on investment in ZEC for the year ended December 31, 2023 was ($3,312), which includes a realized loss of ($934) on the transfer of ZEC to pay the Sponsor’s Fee, and ($2,378) net change in unrealized depreciation on investment in ZEC. Net realized and unrealized loss on investment in ZEC for the year was driven by ZEC price depreciation from $37.80 per ZEC as of December 31, 2022, to $27.69 per ZEC as of December 31, 2023. Net decrease in net assets resulting from operations was ($3,582) for the year ended December 31, 2023, which consisted of the net realized and unrealized loss on investment in ZEC, plus the Sponsor’s Fee of $270. Net assets decreased to $8,961 at December 31, 2023, a 29% decrease for the year. The decrease in net assets resulted from the aforementioned ZEC price depreciation and the withdrawal of approximately 8,192 ZEC to pay the foregoing Sponsor’s Fee.

Net realized and unrealized loss on investment in ZEC for the year ended December 31, 2022 was ($35,439), which includes a realized loss of ($495) on the transfer of ZEC to pay the Sponsor’s Fee, and ($34,944) net change in unrealized depreciation on investment in ZEC. Net realized and unrealized loss on investment in ZEC for the year was driven by