Company: HZEN
Filing Date: 2025-02-10
Form Type: 10-Q
Source: 0000950170-25-017070
Chunk: 26

Company: Grayscale Horizen Trust (ZEN)
Filing Date: 2025-02-10
Form: 10-Q
Item: Part I, Item 1
Chunk 26
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 Market—ZEN Value—The Reference Rate and the Reference Rate Price” in the Trust’s Annual Report on Form 10-K. 

 20

The following table illustrates the movements in the Reference Rate Price from January 1, 2020 to December 31, 2024. During such period, the Reference Rate Price has ranged from $4.71 to $152.74, with the straight average being $25.03 through December 31, 2024. As described above, effective June 20, 2023, the Reference Rate Price is the Secondary Reference Rate selected by the Secondary Reference Rate Provider. The Sponsor has not observed a material difference between the Reference Rate Price and average prices from the constituent Digital Asset Trading Platforms individually or as a group.

    High
     
    Low

    Period
     
    Average

    Reference Rate Price

    Date
     
    Reference Rate Price

    Date
     
    End of period

    Last business day

    Twelve months ended December 31, 2020
     
    $
    7.95

    $
    16.26

    11/25/2020
     
    $
    4.71

    3/18/2020
     
    $
    10.61

    $
    10.61

    Twelve months ended December 31, 2021
     
    $
    73.28

    $
    152.74

    5/8/2021
     
    $
    11.73

    1/2/2021
     
    $
    62.85

    $
    62.85

    Twelve months ended December 31, 2022
     
    $
    24.41

    $
    66.40

    1/5/2022
     
    $
    8.47

    12/20/2022
     
    $
    9.08

    $
    8.89

    Twelve months ended December 31, 2023
     
    $
    9.26

    $
    14.73

    2/16/2023
     
    $
    5.92

    6/12/2023
     
    $
    9.13

    $
    9.60

    Twelve months ended December