Company: HZEN
Filing Date: 2025-02-10
Form Type: 10-Q
Source: 0000950170-25-017070
Chunk: 1

Company: Grayscale Horizen Trust (ZEN)
Filing Date: 2025-02-10
Form: 10-Q
Item: Part I, Item 1
Chunk 1
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STATEMENTS OF OPERATIONS (UNAUDITED)

(Amounts in thousands)

    Three Months Ended December 31,

    2024

    2023

    Investment income:

    Investment income
     
    $
    -

    $
    -

    Expenses:

    Sponsor’s Fee, related party

    56

    37

    Net investment loss

    (56
    )

    (37
    )

    Net realized and unrealized gain from:

    Net realized loss on investment in ZEN

    (24
    )

    (41
    )

    Net change in unrealized appreciation on investment in ZEN

    15,457

    867

    Net realized and unrealized gain on investment

    15,433

    826

    Net increase in net assets resulting from operations
     
    $
    15,377

    $
    789

See accompanying notes to the unaudited financial statements.6

GRAYSCALE HORIZEN TRUST (ZEN) 

STATEMENTS OF CHANGES IN NET ASSETS (UNAUDITED)

(Amounts in thousands, except change in Shares outstanding)

    Three Months Ended December 31,

    2024

    2023

    Increase in net assets from operations:

    Net investment loss
     
    $
    (56
    )
     
    $
    (37
    )

    Net realized loss on investment in ZEN

    (24
    )

    (41
    )

    Net change in unrealized appreciation on investment in ZEN

    15,457

    867

    Net increase in net assets resulting from operations

    15,377

    789

    Increase in net assets from capital share transactions:

    Shares issued

    5,569

    -

    Net increase in net assets resulting from capital share transactions

    5,569

    -

    Total increase in net assets from operations and capital share transactions

    20,946

    789

    Net assets:

    Beginning of period

    4,767

    4,671

    End of period
     
    $
    25,713

    $
    5,460

    Change in Shares outstanding:

    Shares outstanding at beginning of period

    6,838,000

    6,838,000

    Shares issued

    3,600,700

    -

    Net increase