Company: ZCSH
Filing Date: 2025-03-07
Form Type: 10-K
Source: 0000950170-25-035469
Chunk: 34

Company: Grayscale Zcash Trust (ZEC)
Filing Date: 2025-03-07
Form: 10-K
Item: Item 16
Chunk 34
---
48

        $
        12,543

        ZEC contributed

        -

        -

        ZEC distributed for Sponsor’s Fee, related party

        (8,192.62714311
        )

        (270
        )

        Net change in unrealized depreciation on investment in ZEC

        -

        (2,378
        )

        Net realized loss on investment in ZEC

        -

        (934
        )

        Balance at December 31, 2023

        323,614.61762737

        $
        8,961

        ZEC contributed

        78,192.38923032

        2,127

        ZEC distributed for Sponsor’s Fee, related party

        (9,083.41751442
        )

        (296
        )

        Net change in unrealized depreciation on investment in ZEC

        -

        12,154

        Net realized loss on investment in ZEC

        -

        (906
        )

        Balance at December 31, 2024

        392,723.58934327

        $
        22,040

F-11

4. Creations and Redemptions of Shares At December 31, 2024 and 2023, there were an unlimited number of Shares authorized by the Trust. The Trust creates (and, should the Trust commence a redemption program, redeems) Shares from time to time, but only in one or more Baskets. The creation and redemption of Baskets on behalf of investors are made by the Authorized Participant in exchange for the delivery of ZEC to the Trust or the distribution of ZEC by the Trust. The amount of ZEC required for each creation Basket or redemption Basket is determined by dividing (x) the amount of ZEC owned by the Trust at 4:00 p.m., New York time, on such trade date of a creation or redemption order, after deducting the amount of ZEC representing the U.S. dollar value of accrued but unpaid fees and expenses of the Trust, by (y) the number of Shares outstanding at such time and multiplying the quotient obtained by 100. Each Share represented approximately 0.0835 and 0.0857 of one ZEC at December 31, 2024 and 2023, respectively. The decrease in the amount of ZEC represented by each Share is primarily a result of the periodic withdrawal of ZEC to pay the Sponsor’s Fee. The cost