# EDGAR Filing Document

**Accession Number:** 0001720265
**File Stem:** 0001193125-25-300546
**Filing Date:** 2025-11
**Character Count:** 3279
**Document Hash:** e9aecdad022ec48bf750984f048fc89f
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001193125-25-300546.hdr.sgml**: 20251126

**ACCESSION NUMBER**: 0001193125-25-300546

**CONFORMED SUBMISSION TYPE**: FWP

**PUBLIC DOCUMENT COUNT**: 2

**FILED AS OF DATE**: 20251126

**DATE AS OF CHANGE**: 20251126

**SUBJECT COMPANY**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Grayscale Zcash Trust (ZEC)
- **CENTRAL INDEX KEY:** 0001720265
- **STANDARD INDUSTRIAL CLASSIFICATION:** [6221]
- **ORGANIZATION NAME:** 09 Crypto Assets
- **EIN:** 826646113
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** FWP
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 333-291800
- **FILM NUMBER:** 251530529

**BUSINESS ADDRESS:**
- **STREET 1:** 290 HARBOR DRIVE
- **STREET 2:** 4TH FLOOR
- **CITY:** STAMFORD
- **STATE:** CT
- **ZIP:** 06902
- **BUSINESS PHONE:** 212-668-1427

**MAIL ADDRESS:**
- **STREET 1:** 290 HARBOR DRIVE
- **STREET 2:** 4TH FLOOR
- **CITY:** STAMFORD
- **STATE:** CT
- **ZIP:** 06902

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** Zcash Investment Trust
- **DATE OF NAME CHANGE:** 20171019
**FILED BY**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Grayscale Zcash Trust (ZEC)
- **CENTRAL INDEX KEY:** 0001720265
- **STANDARD INDUSTRIAL CLASSIFICATION:** [6221]
- **ORGANIZATION NAME:** 09 Crypto Assets
- **EIN:** 826646113
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** FWP

**BUSINESS ADDRESS:**
- **STREET 1:** 290 HARBOR DRIVE
- **STREET 2:** 4TH FLOOR
- **CITY:** STAMFORD
- **STATE:** CT
- **ZIP:** 06902
- **BUSINESS PHONE:** 212-668-1427

**MAIL ADDRESS:**
- **STREET 1:** 290 HARBOR DRIVE
- **STREET 2:** 4TH FLOOR
- **CITY:** STAMFORD
- **STATE:** CT
- **ZIP:** 06902

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** Zcash Investment Trust
- **DATE OF NAME CHANGE:** 20171019

**Filed Pursuant To Rule 433**

**Registration No 333-291800**

**November 26, 2025**

![img119585828_0.jpg](img119585828_0.jpg)

<br>Barry Silbert@BarrySilbertThis morning, @Grayscale filed a Form S-3 to convert the Zcash Trust into an ETP Launched in 2017 well before privacy emerged as an investment theme, the Zcash Trust was one of Grayscale's earliest products Quote Grayscale@Grayscale·6hWe've filed the ZCSH Form S-3 - an important step required to launch the first ZEC ETPs. Zcash launched in 2016. Seeing the potential of the Zcash protocol, we launched Grayscale Zcash Trust (Ticker: ZCSH) as a private placement in 2017.

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**Grayscale Zcash Trust (the "Trust") has filed a registration statement (including a prospectus) with the SEC for the offering to which this communication relates. Before you invest, you should read the prospectus in that registration statement and other documents the Trust has filed with the SEC for more complete information about the Trust and this offering. You may get these documents for free by visiting EDGAR on the SEC Web site at http://sec.gov. Alternatively, the Trust or any authorized participant will arrange to send you the prospectus after filing if you request it by emailing info@grayscale.com or by contacting Grayscale Securities, 290 Harbor Drive, Stamford, CT 06902. The Trust is speculative and entails significant risk, including possible loss of principal.**

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