Company: HZEN
Filing Date: 2025-02-10
Form Type: 10-Q
Source: 0000950170-25-017070
Chunk: 91

Company: Grayscale Horizen Trust (ZEN)
Filing Date: 2025-02-10
Form: 10-Q
Item: Part I, Item 8
Chunk 91
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 beginning after December 15, 2023, and interim periods within fiscal years beginning after December 15, 2024. The Sponsor of the Trust is currently evaluating the impact the ASU will have on its financial statements and related disclosures.

3. Fair Value of ZENZEN is held by the Custodian on behalf of the Trust and is carried at fair value. As of December 31, 2024 and September 30, 2024, the Trust held 889,400.61619664 and 586,285.79535365 ZEN, respectively.The Trust determined the fair value per ZEN to be $28.91 and $8.13 on December 31, 2024 and September 30, 2024, respectively, using the price provided at 4:00 p.m., New York time, by the Digital Asset Trading Platform Market considered to be the Trust’s principal market (Coinbase).The following represents the changes in quantity of ZEN and the respective fair value: 

        (Amounts in thousands, except ZEN amounts)
         
        Quantity

        Fair Value

        Balance at September 30, 2023

        601,138.55454194

        $
        4,671

        ZEN contributed

        -

        -

        ZEN distributed for Sponsor’s Fee, related party

        (14,852.75918829
        )

        (140
        )

        Net change in unrealized depreciation on investment in ZEN

        -

        400

        Net realized loss on investment in ZEN

        -

        (164
        )

        Balance at September 30, 2024

        586,285.79535365

        $
        4,767

        ZEN contributed

        307,060.17886281

        5,569

        ZEN distributed for Sponsor’s Fee, related party

        (3,945.35801982
        )

        (56
        )

        Net change in unrealized appreciation on investment in ZEN

        -

        15,457

        Net realized loss on investment in ZEN

        -

        (24
        )

        Balance at December 31, 2024

        889,400.61619664

        $
        25,713

4. Creations and Redemptions of SharesAt December 31, 2024 and September 30, 2024, there