Company: HZEN
Filing Date: 2025-02-10
Form Type: 10-Q
Source: 0000950170-25-017070
Chunk: 9

Company: Grayscale Horizen Trust (ZEN)
Filing Date: 2025-02-10
Form: 10-Q
Item: Part I, Item 1
Chunk 9
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”). ASU 2023-07 was issued to improve reportable segment disclosure requirements, primarily through enhanced disclosures about significant segment expenses. The guidance requires public entities to provide in interim periods all disclosures about a reportable segment’s profit or loss and assets that are currently required annually and also applies to public entities with a single reportable segment. The guidance is effective for fiscal years beginning after December 15, 2023, and interim periods within fiscal years beginning after December 15, 2024. The Sponsor of the Trust is currently evaluating the impact the ASU will have on its financial statements and related disclosures.

3. Fair Value of ZENZEN is held by the Custodian on behalf of the Trust and is carried at fair value. As of December 31, 2024 and September 30, 2024, the Trust held 889,400.61619664 and 586,285.79535365 ZEN, respectively.The Trust determined the fair value per ZEN to be $28.91 and $8.13 on December 31, 2024 and September 30, 2024, respectively, using the price provided at 4:00 p.m., New York time, by the Digital Asset Trading Platform Market considered to be the Trust’s principal market (Coinbase).The following represents the changes in quantity of ZEN and the respective fair value: 

        (Amounts in thousands, except ZEN amounts)
         
        Quantity

        Fair Value

        Balance at September 30, 2023

        601,138.55454194

        $
        4,671

        ZEN contributed

        -

        -

        ZEN distributed for Sponsor’s Fee, related party

        (14,852.75918829
        )

        (140
        )

        Net change in unrealized depreciation on investment in ZEN

        -

        400

        Net realized loss on investment in ZEN

        -

        (164
        )

        Balance at September 30, 2024

        586,285.79535365

        $
        4,767

        ZEN contributed

        307,060.17886281

        5,569

        ZEN distributed for Sponsor’s Fee, related party

        (3,945.35801982
        )

        (56
        )

        Net change in unrealized appreciation on investment in ZEN

        -

        15,457