The increase in Karminski's stake over an 11-day window signals growing conviction. Monitor for further accumulation or a potential conversion to a 13D if the position approaches 5% or if activist intent emerges.
Price Chart
Executive Summary
Michal Adam Karminski filed an amended Schedule 13G for Zcash ETF, reporting beneficial ownership of 726,553 shares (3.313% of outstanding) as of October 5, 2026. This is an increase from the prior filing 11 days ago, indicating growing passive conviction in the ETF.
Key Financial Metrics
Key Facts
- Karminski Michal Adam filed SC 13G/A on October 6, 2026, reporting 726,553 shares of Zcash ETF.
- Stake represents 3.313% of shares outstanding.
- This is an amendment to a prior SC 13G filed September 25, 2026, showing increased ownership.
- Filer certifies passive intent under Rule 13d-1(c), not seeking control.
Financial Impact
Stake increased to 726,553 shares (3.313% of outstanding) — no dollar value disclosed.
Risk Factors
- Passive certification limits signaling — no control intent disclosed.
- Crypto ETF volatility may affect stake value independent of filing signal.
Investment Themes
Documents Analyzed
This report is based on 3 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| SC 13G/A Filing (Primary) | 0002157255-26-000003 |
| Document: 0002157255-26-000003-index.html | 0002157255-26-000003 |
| Document: 0002157255-26-000003.txt | 0002157255-26-000003 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 6, 2026 20d ago | SC 13G/A | $35.35 $30.86 | ▼ −12.70% | ▼ −11.72% | $34.11 (−3.50%) |
Oct 5, 2026 21d ago | 8-K | $36.07 $32.41 | ▼ −10.15% | ▼ −10.01% | $34.11 (−5.43%) |
Sep 30, 2026 27d ago | 8-K | $37.94 $35.35 | ▼ −6.83% | ▼ −8.74% | $34.11 (−10.09%) |
Sep 25, 2026 4w ago | SC 13G | $41.16 $34.04 | ▼ −17.29% | ▼ −17.07% | $34.11 (−17.12%) |
Sep 18, 2026 5w ago | 8-K | $39.24 $41.16 | ▲ +4.88% | ▲ +3.62% | $34.11 (−13.07%) |
Aug 25, 2026 9w ago | EFFECT | $63.10 $66.59 | ▲ +5.53% | ▲ +6.07% | $34.11 (−45.94%) |
Aug 21, 2026 9w ago | S-3/A | $64.09 $68.95 | ▲ +7.58% | ▲ +7.11% | $34.11 (−46.77%) |
Jul 31, 2026 12w ago | S-3/A | $10.33 $12.91 | ▲ +24.97% | ▲ +21.46% | $34.11 (+230.12%) |
US Market Status
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