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Coinbase pays us for certain activity generated through this link. Prices displayed are informational. Grayscale's Zcash ETF is so hot right now, they are making shares 300% more accessible to retailers.
The fund, ticker ZCSH, filed to carry out a 3-for-1 forward share split on Friday, according to a filing with the U.S. Securities and Exchange Commission. Shareholders of record at the close of trading on Sept. 28 will receive two extra shares for every one they already hold.
Myriad: How high will Bitcoin go? Click to make your prediction. A forward split doesn't change what your investment is worth.
It just slices each share into smaller pieces, the same way a $20 bill can become four $5 bills without changing the total in your wallet. Grayscale's own example: 10 shares worth $300 each, or $3,000 total, become 30 shares worth $100 each—still $3,000. Why is Grayscale doing this you ask?
In a nutshell, Zcash got so expensive so fast, the coin rising more than 2,800% in the last year, that the ETF share is too high per unit. You can buy a fraction of a token on your favorite crypto exchange, but you cannot buy a fraction of a stock on your favorite broker. This is why splits exist.
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