Company: HZEN
Filing Date: 2025-11-25
Form Type: 10-K
Source: 0001193125-25-297573
Chunk: 50

Company: Grayscale Horizen Trust (ZEN)
Filing Date: 2025-11-25
Form: 10-K
Item: Item 6
Chunk 50
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Fee payable to the Transfer Agent for services it provides to the Trust, which the Sponsor will pay to the Transfer Agent as a Sponsor-paid Expense. “Treasury Regulations”—The regulations, including proposed or temporary regulations, promulgated under the Code. “Trust”—Grayscale Horizen Trust (ZEN), a Delaware statutory trust, formed on July 3, 2018 under the DSTA and pursuant to the Trust Agreement. “Trust Agreement”—The Amended and Restated Declaration of Trust and Trust Agreement between the Trustee and the Sponsor establishing and governing the operations of the Trust, as amended by Amendments No. 1, No. 2, and No. 3 thereto, and as the same may be further amended from time to time. “Trustee”—CSC Delaware Trust Company (formerly known as Delaware Trust Company), a Delaware trust company, is the Delaware trustee of the Trust.  

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“UBTI”—Unrelated business taxable income. “U.S.”—United States. “U.S. dollar” or “$”—United States dollar, or dollars. “U.S. GAAP”—United States generally accepted accounting principles. “ZEN” or “Horizen”—Horizen tokens, which are a type of digital asset based on an open-source cryptographic protocol existing on the Horizen Network, comprising units that constitute the assets underlying the Trust’s Shares. “Zcash” or “ZEC”—A type of digital asset based on an open-source cryptographic protocol existing on the Zcash network.

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SIGNATURES Pursuant to the requirements of Section 13 or 15(d) of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned in the capacities* indicated, thereunto duly authorized.  

     Grayscale Investments Sponsors, LLCas Sponsor of Grayscale Horizen Trust (ZEN)

       By:
     /s/ Peter Mintzberg 

     Name:
     Peter Mintzberg 

     Title:
     Member of the Board of Directors and Chief Executive Officer (Principal Executive Officer)*

       By:
     /s/ Edward McGee

     Name:
     Edward McGee

     Title:
     Member of the Board of Directors and Chief Financial Officer (Principal Financial and Accounting Officer)*

     By:
     /s/ Barry Silbert

     Name: 
     Barry Silbert

     Title:
     Chairman of the Board of DirectorsDirector*

     By