Grayscale Zcash Trust (ZEC) (ZCSH) Form 10-Q — Aug 4, 2026
Grayscale Zcash Trust (ZEC) reported a 56% jump in net assets for the second quarter of 2026, rising to $155.3 million at June 30, driven by ZEC's price rally from $254.27 to $399.44. The trust posted a Q2 total return of 56.14% and a $55.8 million net increase in net assets from operations, partly offset by a $1.063 million sponsor's fee. Despite the strong quarter, net assets remain down 23% for the first half of 2026, as ZEC depreciated from $509.35 at December 31, 2025 to $399.44 at quarter-end. Principal Market NAV per share fell to $32.15 from $41.51 at year-end.
Key figures
- Net Income
- -$45.2 million net decrease in net assets from operations for six months ended June 30, 2026; +$55.8 million net increase for Q2 2026
- Total Assets
- 155252000
- Cash Position
- 0
- Shares Outstanding
- 4829300
- Zec Per Share
- 0.0805
- H1 Sponsors Fee
- 1783000
- H1 Total Return
- -22.55%
- Q2 Sponsors Fee
- 1063000
- Q2 Total Return
- 56.14%
- Sponsor Fee Rate
- 2.5% of NAV per year, paid in ZEC
- Zec Price Dec31 2025
- 509.35
- Zec Price Jun30 2025
- 39.02
- Zec Price Jun30 2026
- 399.44
- Zec Price Mar31 2026
- 254.27
- Zec Cost Basis Jun30 2026
- 47320000
- Nav Per Share At Dec31 2025
- 41.51
- Index Price Twelve Month Low
- 35.01
- Index Price Twelve Month High
- 685.96
- Principal Market Nav Per Share
- 32.15
- Dcg Remaining Buyback Authorization
- $8.0 million
AI analysis
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