Company: ZCSH
Filing Date: 2025-03-07
Form Type: 10-K
Source: 0000950170-25-035469
Chunk: 33

Company: Grayscale Zcash Trust (ZEC)
Filing Date: 2025-03-07
Form: 10-K
Item: Item 16
Chunk 33
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 and regularly reviewed by the chief operating decision maker (“CODM”) in deciding how to allocate resources and to assess performance. The Chief Executive Officer and Chief Financial Officer of the Sponsor act as the Trust’s CODM. The Trust represents a single operating segment, as the CODM monitors the operating results of the Trust as a whole and the Trust’s passive investment objective is pre-determined in accordance with the terms of the Trust Agreement. The financial information in the form of the Trust’s total returns, expense ratios and changes in net assets (i.e., changes in net assets resulting from operations and capital share transactions), which are used by the CODM to assess the segment’s performance, are consistent with that presented within the Trust’s financial statements. Segment assets are reflected on the accompanying Statements of Assets and Liabilities as Total assets and the only significant segment expense, the Sponsor’s fee, related party, is included in the accompanying Statements of Operations.

3. Fair Value of ZECZEC is held by the Custodian on behalf of the Trust and is carried at fair value. As of December 31, 2024, 2023 and 2022 the Trust held 392,723.58934327, 323,614.61762737 and 331,807.24477048 ZEC, respectively. The Trust determined the fair value per ZEC to be $56.12, $27.69, and $37.80 on December 31, 2024, 2023 and 2022 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 ZEC and the respective fair value:  

        (Amounts in thousands, except ZEC amounts)
         
        Quantity

        Fair Value

        Balance at December 31, 2021

        340,207.27644932

        $
        48,721

        ZEC contributed

        -

        -

        ZEC distributed for Sponsor’s Fee, related party

        (8,400.03167884
        )

        (739
        )

        Net change in unrealized depreciation on investment in ZEC

        -

        (34,944
        )

        Net realized loss on investment in ZEC

        -

        (495
        )

        Balance at December 31, 2022

        331,807.244770