Company: ZCSH
Filing Date: 2025-03-07
Form Type: 10-K
Source: 0000950170-25-035469
Chunk: 294

Company: Grayscale Zcash Trust (ZEC)
Filing Date: 2025-03-07
Form: 10-K
Item: Item 7
Chunk 294
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 movements in the price of ZEC. Investors, however, should also be aware that past movements in the ZEC price are not indicators of future movements. Movements may be influenced by various factors, including, but not limited to, government regulation, security breaches experienced by service providers, as well as political and economic uncertainties around the world. 

The following chart illustrates the movement in the Trust’s NAV per Share versus the Index Price and the Trust’s Principal Market NAV per Share from December 6, 2018 (the inception of the Trust’s operations) to December 31, 2024. For more information on the determination of the Trust’s NAV, see “Item 1. Business—Overview of the ZEC Industry and Market—ZEC Value—The Index and the Index Price.” 

90 

The following table illustrates the movements in the Index Price from January 1, 2020 to December 31, 2024. During such period, the Index Price has ranged from $18.14 to $365.90, with the straight average being $72.09 through December 31, 2024. The Sponsor has not observed a material difference between the Index Price and average prices from the Constituent Trading Platforms individually or as a group. 

    High
     
    Low

    Period
     
    Average

    Index Price

    Date
     
    Index Price

    Date
     
    End ofperiod

    Last businessday

    Twelve months ended December 31, 2020
     
    $
    56.99

    $
    99.10

    8/6/2020
     
    $
    23.70

    3/16/2020
     
    $
    63.28

    $
    63.28

    Twelve months ended December 31, 2021
     
    $
    150.80

    $
    365.90

    5/12/2021
     
    $
    56.06

    1/2/2021
     
    $
    143.28

    $
    143.28

    Twelve months ended December 31, 2022
     
    $
    87.78

    $
    204.94

    3/26/2022
     
    $
    36.18

    11/9/2022