Grayscale’s Zcash ETF Plans 3-for-1 Split After $233M Inflows

Grayscale’s Zcash ETF, ZCSH, has attracted more than $233 million in cumulative net inflows since its Aug. 25 launch, according to The Block. The reading is notable because the fund only began trading on NYSE Arca on August 25, 2026, and Grayscale has now announced a 3-for-1 forward split of its shares.

The split is a share-structure event, rather than a new measure of capital entering the fund. The flow figures, assets and trading volume reported over the launch period measure different aspects of ZCSH activity.

Data Snapshot

MetricCurrentPreviousChangePeriodAs ofSourceCumulative ZCSH net inflows since launchmore than $233 million——Since launching on Aug. 25, as of September 18, 2026September 18, 2026The BlockZCSH daily inflow$46.6 million——WednesdaySeptember 18, 2026The BlockZCSH daily inflowmore than $112 million——September 8, 2026September 18, 2026The BlockZCSH net assetsaround $890 million——As of Sept. 17, 2026September 18, 2026The BlockZCSH cumulative trading volumemore than $11 billion——As of Sept. 17, 2026September 18, 2026The BlockForward share split ratio3-for-1——Effective September 30, 2026September 18, 2026U.S. Securities and Exchange Commission / Grayscale

ZCSH’s inflows since its August 25 launch

The more than $233 million total covers the period from the fund’s Aug. 25 debut through September 18, 2026. Within that launch-period tally, ZCSH recorded a daily inflow of $46.6 million on Wednesday and more than $112 million on September 8, according to The Block.

Those daily figures should not be added to the cumulative number: they are single-day readings within the same since-launch flow period. They nevertheless show that the reported inflows were concentrated in part in sizeable daily moves rather than arriving at a uniform pace.

$890 million in assets and more than $11 billion in trading volume

As of Sept. 17, 2026, ZCSH held around $890 million in net assets and had exceeded $11 billion in cumulative trading volume, The Block reported.

These figures describe different activity: net assets measure the value held by the ETF, while trading volume measures transactions in its shares. Neither is equivalent to net inflows, and volume can include repeated purchases and sales of the same shares rather than new investor capital.

Grayscale’s 3-for-1 ZCSH split schedule

Grayscale announced the 3-for-1 forward share split for ZCSH on September 18, 2026, in a filing published through the U.S. Securities and Exchange Commission.

Each pre-split share will become three post-split shares, so holders will receive two additional shares for each share held. The split applies to shareholders of record at market close on September 28, 2026; additional shares are payable after market close on September 29, and split-adjusted trading is expected to begin before market open on September 30, 2026.

ZEC’s move to as high as $1,521

The ETF’s reported inflow surge came as Zcash’s native ZEC token climbed as high as $1,521 early Friday, according to The Block. The contemporaneous price move provides market context, but the reported data does not establish it as the cause of ZCSH’s flows.

The next concrete event for shareholders is the September 30 start of expected split-adjusted trading.

Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.