Monitor for any future disclosure of the amount of ZEC moved to Anchorage Digital, which could signal trust growth or custodian risk rebalancing. The fee rebate suggests potential cost savings, but the magnitude is unknown.
Price Chart
Executive Summary
The Zcash ETF (ZCSH) added Anchorage Digital Bank N.A. as a second custodian for a portion of its ZEC holdings, alongside existing primary custodian Coinbase Custody Trust Company, LLC. The move is described as part of the Sponsor's ongoing risk management approach as the trust grows, though no specific amount of ZEC to be transferred has been determined. This is a routine operational diversification with no financial terms disclosed.
Key Facts
- The Zcash ETF entered into a custody agreement with Anchorage Digital Bank N.A. as an additional custodian for a portion of its ZEC holdings.
- Coinbase Custody Trust Company, LLC remains the Trust's primary custodian; the existing arrangement is unaffected.
- The Sponsor has not yet determined the total amount of ZEC to be moved to Anchorage Digital.
- Anchorage Digital is required to maintain commercial crime insurance or a fidelity bond with limits of not less than $100 million in the aggregate.
- The Sixth Amendment to the Master Custody Service Agreement also provides for a temporary rebate of a portion of custody fees payable by Grayscale, though specific terms are redacted.
Financial Impact
No financial impact disclosed. Custody fees paid to the additional custodian are Sponsor-paid expenses. A temporary fee rebate was agreed but terms are redacted.
Risk Factors
- Operational risk from managing dual custodians and potential fork-related service suspensions by Anchorage Digital.
- Shareholders cannot be assured that the Additional Custodian's insurance will cover losses with respect to the Trust's ZEC.
Investment Themes
Documents Analyzed
This report is based on 6 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 8-K Filing (Primary) | 0001193125-26-414257 |
| Document: zcsh-20260929.htm | 0001193125-26-414257 |
| Document: zcsh-ex10_2.htm | 0001193125-26-414257 |
| Document: 0001193125-26-414257-index-headers.html | 0001193125-26-414257 |
| Document: 0001193125-26-414257-index.html | 0001193125-26-414257 |
| Document: 0001193125-26-414257.txt | 0001193125-26-414257 |
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Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 6, 2026 20d ago | SC 13G/A | $35.35 $30.86 | ▼ −12.70% | ▼ −11.72% | $32.72 (−7.44%) |
Oct 5, 2026 21d ago | 8-K | $36.07 $32.41 | ▼ −10.15% | ▼ −10.01% | $32.72 (−9.29%) |
Sep 30, 2026 26d ago | 8-K | $37.94 $35.35 | ▼ −6.83% | ▼ −8.74% | $32.72 (−13.76%) |
Sep 25, 2026 4w ago | SC 13G | $41.16 $34.04 | ▼ −17.29% | ▼ −17.07% | $32.72 (−20.50%) |
Sep 18, 2026 5w ago | 8-K | $39.24 $41.16 | ▲ +4.88% | ▲ +3.62% | $32.72 (−16.62%) |
Aug 25, 2026 9w ago | EFFECT | $63.10 $66.59 | ▲ +5.53% | ▲ +6.07% | $32.72 (−48.15%) |
Aug 21, 2026 9w ago | S-3/A | $64.09 $68.95 | ▲ +7.58% | ▲ +7.11% | $32.72 (−48.95%) |
Jul 31, 2026 12w ago | S-3/A | $10.33 $12.91 | ▲ +24.97% | ▲ +21.46% | $32.72 (+216.65%) |
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