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144 ·Filed May 5, 2026

HZEN

Grayscale Horizen Trust (ZEN)
NEUTRAL
Impact 2/10
Horizonimmediate Processed5mo ago SEC0001652536-26-000036
Form 144 — notice of proposed sale of securities
Actionable Insight • Neutral

The Form 144 confirms insider sales, but the size is modest relative to total shares. Monitor for any additional filings by Digital Currency Group that could indicate a larger divestment plan. No immediate trading action warranted.

DirectionNeutral
Confidencemedium
Horizonimmediate
Final — all horizons settled through T+60d
HZEN ▼ -49.48% at T+60d
NEUTRAL call -49.48% · α vs SPY -51.54% · entry $0.7100 → $0.3587
Entry = T+0 close
May 5, 2026
via day close
T+1d
-5.77%
call -5.77% · α -5.44%
$0.6690
settled 6mo ago
T+5d
+2.82%
call +2.82% · α +1.69%
$0.7300
settled 6mo ago
T+20d
-13.38%
call -13.38% · α -16.16%
$0.6150
settled 5mo ago
T+60d
-49.48%
call -49.48% · α -51.54%
$0.3587
settled 3mo ago

Price Chart

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Executive Summary

Digital Currency Group, Inc. (DCG), an affiliate of Grayscale Horizen Trust (ZEN), filed a Form 144 indicating the sale of 55,599 common shares between April 27 and May 5, 2026, at prices ranging from $3,870.72 to $5,334.10 per share. The sales represent approximately 0.5% of outstanding shares and were executed through Canaccord Genuity Inc. This is a routine affiliate sale and does not signal material change in the company's outlook.

Key Facts

  • Digital Currency Group, Inc. sold 55,599 shares of Grayscale Horizen Trust (ZEN) common stock.
  • Sales occurred on multiple dates from April 27 to May 5, 2026.
  • Transaction prices ranged from $3,870.72 to $5,334.10 per share.
  • Shares were sold through Canaccord Genuity Inc.
  • The total shares sold represent approximately 0.5% of the outstanding 11,425,100 shares.

Financial Impact

Not material; sales represent about 0.5% of outstanding shares.

Risk Factors

  • Potential overhang if Digital Currency Group continues selling additional shares.
  • No negative signal from the filing itself; risk is limited.

Market Snapshot

Exchange
OTC
Sector
Commodity Contracts Brokers & Dealers

Investment Themes

Traditional Finance

Documents Analyzed

This report is based on 3 SEC documents filed with EDGAR.

DocumentAccession Number
144 Filing (Primary)0001652536-26-000036
Document: 0001652536-26-000036-index.html0001652536-26-000036
Document: 0001652536-26-000036.txt0001652536-26-000036
9 reports for HZEN
Performance horizon
Filters
Rows
Reports for HZEN — sortable, filterable
TypeNow
Oct 26, 2026
today
144
NEUTRAL ★ 2/10
$0.6610awaiting T+20—$0.5600 (−15.28%)
Oct 23, 2026
3d ago
144
NEUTRAL ★ 2/10
$0.7500awaiting T+20—$0.5600 (−25.33%)
Oct 23, 2026
3d ago
144
NEUTRAL ★ 3/10
$0.7500awaiting T+20—$0.5600 (−25.33%)
Oct 23, 2026
3d ago
144
NEUTRAL ★ 2/10
$0.7500awaiting T+20—$0.5600 (−25.33%)
May 7, 2026
24w ago
144
NEUTRAL ★ 2/10
$0.6700 $0.5200▼ −22.39%▼ −22.41%$0.5600 (−16.42%)
May 5, 2026
24w ago
144
NEUTRAL ★ 2/10
$0.7100 $0.6150▼ −13.38%▼ −16.16%$0.5600 (−21.13%)
May 1, 2026
25w ago
144
NEUTRAL ★ 1/10
$0.7000 $0.6950▼ −0.71%▼ −6.36%$0.5600 (−20.00%)
Apr 30, 2026
25w ago
144
NEUTRAL ★ 2/10
$0.6650 $0.6950▲ +4.51%▼ −0.75%$0.5600 (−15.79%)
Apr 28, 2026
25w ago
144
NEUTRAL ★ 2/10
$0.5690 $0.6670▲ +17.22%▲ +11.17%$0.5600 (−1.58%)
Showing 9 of 9

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Report published May 5, 2026