{"filings":[{"id":124465,"accession_number":"0001193125-25-331057","cik":1748945,"company_name":"Grayscale Horizen Trust (ZEN)","ticker":"HZEN","form_type":"8-K","filed_at":"2025-12-23T23:59:59+00:00","items":["5.03","8.01","9.01"],"status":"ready","headline":"Grayscale Horizen Trust changes fiscal year to Dec 31, continues trust operations after token migration","summary_kind":"llm","event_type":"other_material","confidence":"high","bullets":["Fiscal year changed from Sept 30 to Dec 31, effective for FY beginning Jan 1, 2025; transition report on Form 10-KT for Oct-Dec 2025 to be filed.","Sponsor evaluated trust viability after migration of ZEN tokens from legacy Horizen blockchain to Base Network; determined to continue trust and not dissolve at this time.","Sponsor does not currently believe migration alters prior conclusions on ZEN's status under federal securities laws, but continues to evaluate.","Sponsor may re-evaluate trust's viability in future per Trust Agreement and applicable law."],"consensus_eps_estimate":null,"consensus_eps_actual":null,"consensus_revenue_estimate":null,"consensus_revenue_actual":null,"consensus_period":null,"consensus_source":null,"sentiment":"neutral","materiality_score":0.65,"calibrated_materiality_score":0.65,"market_cap_usd":0.0,"market_cap_bucket":"microcap","market_cap_source":"finnhub_profile2","market_cap_as_of_date":"2026-05-28","daily_digest_date":null,"daily_digest_url":null,"daily_digest_rank":null},{"id":124464,"accession_number":"0001193125-25-306867","cik":1748945,"company_name":"Grayscale Horizen Trust (ZEN)","ticker":"HZEN","form_type":"8-K","filed_at":"2025-12-03T23:59:59+00:00","items":["8.01"],"status":"ready","headline":"Grayscale Horizen Trust disclaims endorsement of third-party content from X cashtags","summary_kind":"llm","event_type":"other","confidence":"low","bullets":["Filing warns investors that X automatically converts $HZEN cashtags into third-party content pages.","Grayscale states it does not control, endorse, or verify information displayed on those pages.","Investors are directed to SEC filings for authoritative information; social media content is not authorized by Grayscale.","Grayscale has no affiliation with X or any social media site mentioned."],"consensus_eps_estimate":null,"consensus_eps_actual":null,"consensus_revenue_estimate":null,"consensus_revenue_actual":null,"consensus_period":null,"consensus_source":null,"sentiment":"neutral","materiality_score":0.05,"calibrated_materiality_score":0.05,"market_cap_usd":0.0,"market_cap_bucket":"microcap","market_cap_source":"finnhub_profile2","market_cap_as_of_date":"2026-05-28","daily_digest_date":null,"daily_digest_url":null,"daily_digest_rank":null},{"id":124463,"accession_number":"0001193125-25-249963","cik":1748945,"company_name":"Grayscale Horizen Trust (ZEN)","ticker":"HZEN","form_type":"8-K","filed_at":"2025-10-24T23:59:59+00:00","items":["8.01"],"status":"ready","headline":"Grayscale Horizen Trust sponsor reorganized internally; no operational impact","summary_kind":"llm","event_type":"other","confidence":"high","bullets":["On Oct 22, 2025, GSOIH transferred membership units in GSO to new entity Grayscale Investments, which became sole managing member of sponsor.","Board of Grayscale Investments consists of Barry Silbert, Mark Shifke, Simon Koster, Peter Mintzberg, Edward McGee—same as prior board.","All entities remain consolidated subsidiaries of Digital Currency Group, Inc.","Trust states reorganization will have no material impact on its operations.","No changes to trust structure, assets, or shareholder rights."],"consensus_eps_estimate":null,"consensus_eps_actual":null,"consensus_revenue_estimate":null,"consensus_revenue_actual":null,"consensus_period":null,"consensus_source":null,"sentiment":"neutral","materiality_score":0.1,"calibrated_materiality_score":0.1,"market_cap_usd":0.0,"market_cap_bucket":"microcap","market_cap_source":"finnhub_profile2","market_cap_as_of_date":"2026-05-28","daily_digest_date":null,"daily_digest_url":null,"daily_digest_rank":null},{"id":124462,"accession_number":"0001193125-25-239051","cik":1748945,"company_name":"Grayscale Horizen Trust (ZEN)","ticker":"HZEN","form_type":"8-K","filed_at":"2025-10-14T23:59:59+00:00","items":["5.02"],"status":"ready","headline":"Grayscale parent GSOIH: Matthew Kummell resigns, Simon Koster appointed director","summary_kind":"llm","event_type":"leadership","confidence":"high","bullets":["Matthew Kummell stepped down as director of GSOIH, the sole managing member of Grayscale Operating, effective Oct 13, 2025.","Simon Koster appointed director of GSOIH; he is CSO of Digital Currency Group, managing a portfolio of 250+ early-stage firms.","Koster also serves on boards of Foundry, Luno (since 2023), Fortitude (2024), and Yuma (2025), all Grayscale affiliates.","No reason given for Kummell's departure; Koster's appointment approved by GSOIH on the same date."],"consensus_eps_estimate":null,"consensus_eps_actual":null,"consensus_revenue_estimate":null,"consensus_revenue_actual":null,"consensus_period":null,"consensus_source":null,"sentiment":"neutral","materiality_score":0.3,"calibrated_materiality_score":0.3,"market_cap_usd":0.0,"market_cap_bucket":"microcap","market_cap_source":"finnhub_profile2","market_cap_as_of_date":"2026-05-28","daily_digest_date":null,"daily_digest_url":null,"daily_digest_rank":null},{"id":141125,"accession_number":"0000950170-25-101660","cik":1748945,"company_name":"Grayscale Horizen Trust (ZEN)","ticker":"HZEN","form_type":"8-K","filed_at":"2025-08-04T23:59:59+00:00","items":["5.02","9.01"],"status":"ready","headline":"Barry Silbert appointed Chairman of Grayscale Horizen Trust Board; Shifke steps down as Chairman","summary_kind":"llm","event_type":"leadership","confidence":"high","bullets":["Barry Silbert, founder of DCG, appointed Director and Chairman of the Board effective August 4, 2025.","Mark Shifke steps down as Chairman but remains a Director.","Grayscale considering further board expansion with independent directors.","Sponsor also hired four senior executives (COO, CMO, CCO, CHRO) from Bridgewater, Apollo, Goldman Sachs, Citadel.","Grayscale manages over $35B in AUM across three dozen products including Bitcoin and Ethereum ETFs."],"consensus_eps_estimate":null,"consensus_eps_actual":null,"consensus_revenue_estimate":null,"consensus_revenue_actual":null,"consensus_period":null,"consensus_source":null,"sentiment":"neutral","materiality_score":0.55,"calibrated_materiality_score":0.55,"market_cap_usd":0.0,"market_cap_bucket":"microcap","market_cap_source":"finnhub_profile2","market_cap_as_of_date":"2026-05-28","daily_digest_date":null,"daily_digest_url":null,"daily_digest_rank":null},{"id":141124,"accession_number":"0000950170-25-096921","cik":1748945,"company_name":"Grayscale Horizen Trust (ZEN)","ticker":"HZEN","form_type":"8-K","filed_at":"2025-07-18T23:59:59+00:00","items":["7.01"],"status":"ready","headline":"Grayscale Horizen Trust to migrate ZEN tokens to Base blockchain by July 23, 2025; viability review by Dec 2025","summary_kind":"llm","event_type":"other_material","confidence":"high","bullets":["Migration from Horizen mainnet to Base blockchain (Layer-2) effective July 23, 2025.","Each ZEN token held by trust will become a ZEN Base Token (ERC-20) after migration; no shareholder action needed.","Circulating supply to increase from ~16M to ~17.25M ZEN Base Tokens; 0.75M to DAO, 0.5M to Foundation.","Coinbase Custody Trust Company to act as custodian for ZEN Base Tokens post-migration.","Sponsor to evaluate token adoption and trust viability by December 2025; may discontinue trust."],"consensus_eps_estimate":null,"consensus_eps_actual":null,"consensus_revenue_estimate":null,"consensus_revenue_actual":null,"consensus_period":null,"consensus_source":null,"sentiment":"neutral","materiality_score":0.6,"calibrated_materiality_score":0.6,"market_cap_usd":0.0,"market_cap_bucket":"microcap","market_cap_source":"finnhub_profile2","market_cap_as_of_date":"2026-05-28","daily_digest_date":null,"daily_digest_url":null,"daily_digest_rank":null},{"id":158924,"accession_number":"0000950170-25-052486","cik":1748945,"company_name":"Grayscale Horizen Trust (ZEN)","ticker":"HZEN","form_type":"8-K","filed_at":"2025-04-09T23:59:59+00:00","items":["3.02"],"status":"ready","headline":"Grayscale Horizen Trust issues 154,900 shares to accredited investors, raising $110,066","summary_kind":"llm","event_type":"other_material","confidence":"high","bullets":["Issued 154,900 shares at NAV per share to accredited investors in exemption under Rule 506(c).","Aggregate proceeds of $110,066; no underwriting discounts paid to Grayscale Securities.","Total shares outstanding increased to 11,380,800 as of April 9, 2025.","Grayscale Securities acted as Authorized Participant facilitating creation and potential distribution."],"consensus_eps_estimate":null,"consensus_eps_actual":null,"consensus_revenue_estimate":null,"consensus_revenue_actual":null,"consensus_period":null,"consensus_source":null,"sentiment":"neutral","materiality_score":0.15,"calibrated_materiality_score":0.15,"market_cap_usd":0.0,"market_cap_bucket":"microcap","market_cap_source":"finnhub_profile2","market_cap_as_of_date":"2026-05-28","daily_digest_date":null,"daily_digest_url":null,"daily_digest_rank":null},{"id":158923,"accession_number":"0000950103-25-004590","cik":1748945,"company_name":"Grayscale Horizen Trust (ZEN)","ticker":"HZEN","form_type":"8-K","filed_at":"2025-04-09T23:59:59+00:00","items":["5.02","9.01"],"status":"ready","headline":"Grayscale appoints Diana Zhang as new COO; prior COO Hugh Ross to depart by May 31","summary_kind":"llm","event_type":"leadership","confidence":"high","bullets":["Diana Zhang appointed Chief Operating Officer of Grayscale Operating, LLC effective May 6, 2025.","Zhang succeeds Hugh Ross, who has served as COO since 2021 and will remain through May 31 for transition.","Zhang brings 18+ years of asset management experience, including executive roles at Bridgewater Associates and BlockTower Capital.","Grayscale is the world's largest crypto-focused asset management platform, sponsor of Grayscale Horizen Trust (HZEN)."],"consensus_eps_estimate":null,"consensus_eps_actual":null,"consensus_revenue_estimate":null,"consensus_revenue_actual":null,"consensus_period":null,"consensus_source":null,"sentiment":"neutral","materiality_score":0.5,"calibrated_materiality_score":0.5,"market_cap_usd":0.0,"market_cap_bucket":"microcap","market_cap_source":"finnhub_profile2","market_cap_as_of_date":"2026-05-28","daily_digest_date":null,"daily_digest_url":null,"daily_digest_rank":null},{"id":177342,"accession_number":"0000950170-25-041982","cik":1748945,"company_name":"Grayscale Horizen Trust (ZEN)","ticker":"HZEN","form_type":"8-K","filed_at":"2025-03-19T23:59:59+00:00","items":["3.02"],"status":"ready","headline":"Grayscale Horizen Trust (ZEN) issues 125,400 Shares for $105,134 in private placement","summary_kind":"llm","event_type":"other_material","confidence":"high","bullets":["Issued 125,400 Shares to accredited investors at NAV-based prices via Rule 506(c).","Aggregate proceeds of 10,634.26853842 ZEN ($105,134); no underwriting discounts paid.","Total shares outstanding now 11,225,900 as of March 19, 2025.","Grayscale Securities acted as Authorized Participant in the offering."],"consensus_eps_estimate":null,"consensus_eps_actual":null,"consensus_revenue_estimate":null,"consensus_revenue_actual":null,"consensus_period":null,"consensus_source":null,"sentiment":"neutral","materiality_score":0.25,"calibrated_materiality_score":0.25,"market_cap_usd":0.0,"market_cap_bucket":"microcap","market_cap_source":"finnhub_profile2","market_cap_as_of_date":"2026-05-28","daily_digest_date":null,"daily_digest_url":null,"daily_digest_rank":null},{"id":177341,"accession_number":"0000950170-25-030874","cik":1748945,"company_name":"Grayscale Horizen Trust (ZEN)","ticker":"HZEN","form_type":"8-K","filed_at":"2025-03-03T23:59:59+00:00","items":["3.02"],"status":"ready","headline":"Grayscale Horizen Trust issued 238,300 Shares at NAV for $260,185 to accredited investors","summary_kind":"llm","event_type":"other_material","confidence":"high","bullets":["Issued 238,300 Shares at NAV-based prices to accredited investors under Rule 506(c).","Total proceeds were 20,225.85693168 ZEN representing $260,185.","Shares outstanding now 11,100,500 as of March 3, 2025.","Grayscale Securities acted as Authorized Participant; no underwriting discounts paid."],"consensus_eps_estimate":null,"consensus_eps_actual":null,"consensus_revenue_estimate":null,"consensus_revenue_actual":null,"consensus_period":null,"consensus_source":null,"sentiment":"neutral","materiality_score":0.3,"calibrated_materiality_score":0.3,"market_cap_usd":0.0,"market_cap_bucket":"microcap","market_cap_source":"finnhub_profile2","market_cap_as_of_date":"2026-05-28","daily_digest_date":null,"daily_digest_url":null,"daily_digest_rank":null},{"id":177340,"accession_number":"0000950170-25-021146","cik":1748945,"company_name":"Grayscale Horizen Trust (ZEN)","ticker":"HZEN","form_type":"8-K","filed_at":"2025-02-14T23:59:59+00:00","items":["3.02"],"status":"ready","headline":"Grayscale Horizen Trust issues 350,100 shares for $357k in ZEN to accredited investors","summary_kind":"llm","event_type":"other_material","confidence":"high","bullets":["Issued 350,100 shares at NAV-based prices under Rule 506(c) exemption to accredited investors.","Aggregate consideration: 29,744.61 ZEN (~$357,072).","Total shares outstanding: 10,862,200 as of February 14, 2025.","Grayscale Securities served as Authorized Participant; no underwriting discounts or commissions."],"consensus_eps_estimate":null,"consensus_eps_actual":null,"consensus_revenue_estimate":null,"consensus_revenue_actual":null,"consensus_period":null,"consensus_source":null,"sentiment":"neutral","materiality_score":0.25,"calibrated_materiality_score":0.25,"market_cap_usd":0.0,"market_cap_bucket":"microcap","market_cap_source":"finnhub_profile2","market_cap_as_of_date":"2026-05-28","daily_digest_date":null,"daily_digest_url":null,"daily_digest_rank":null},{"id":177339,"accession_number":"0000950170-25-007213","cik":1748945,"company_name":"Grayscale Horizen Trust (ZEN)","ticker":"HZEN","form_type":"8-K","filed_at":"2025-01-21T23:59:59+00:00","items":["3.02"],"status":"ready","headline":"Grayscale Horizen Trust issues 108,900 shares in private placement for $240,402","summary_kind":"llm","event_type":"other_material","confidence":"high","bullets":["Shares issued to accredited investors under Rule 506(c); prices based on NAV per share.","Aggregate proceeds of $240,402; no underwriting discounts or commissions paid.","Total shares outstanding increase to 10,512,100 as of January 21, 2025.","Grayscale Securities acted as authorized participant facilitating the creation."],"consensus_eps_estimate":null,"consensus_eps_actual":null,"consensus_revenue_estimate":null,"consensus_revenue_actual":null,"consensus_period":null,"consensus_source":null,"sentiment":"neutral","materiality_score":0.25,"calibrated_materiality_score":0.25,"market_cap_usd":0.0,"market_cap_bucket":"microcap","market_cap_source":"finnhub_profile2","market_cap_as_of_date":"2026-05-28","daily_digest_date":null,"daily_digest_url":null,"daily_digest_rank":null},{"id":177338,"accession_number":"0000950170-25-001120","cik":1748945,"company_name":"Grayscale Horizen Trust (ZEN)","ticker":"HZEN","form_type":"8-K","filed_at":"2025-01-03T23:59:59+00:00","items":["1.01","8.01","9.01"],"status":"ready","headline":"Grayscale Horizen Trust sponsor reorganized; GSO merges with GSI, then assigns contracts to GSIS","summary_kind":"llm","event_type":"other_material","confidence":"high","bullets":["Grayscale Investments, LLC merged into Grayscale Operating, LLC on Jan 1, 2025; GSO is surviving entity.","GSO assigned all sponsor contracts to Grayscale Investments Sponsors, LLC effective Jan 1, 2025.","GSO voluntarily withdrew as sponsor on Jan 3, 2025, effective after 120 days; GSIS to be sole sponsor.","Grayscale expects no material impact on the Trust's operations from the reorganization.","GSIS admitted as additional sponsor under the Amended and Restated Declaration of Trust."],"consensus_eps_estimate":null,"consensus_eps_actual":null,"consensus_revenue_estimate":null,"consensus_revenue_actual":null,"consensus_period":null,"consensus_source":null,"sentiment":"neutral","materiality_score":0.1,"calibrated_materiality_score":0.1,"market_cap_usd":0.0,"market_cap_bucket":"microcap","market_cap_source":"finnhub_profile2","market_cap_as_of_date":"2026-05-28","daily_digest_date":null,"daily_digest_url":null,"daily_digest_rank":null},{"id":194086,"accession_number":"0000950170-24-139563","cik":1748945,"company_name":"Grayscale Horizen Trust (ZEN)","ticker":"HZEN","form_type":"8-K","filed_at":"2024-12-23T23:59:59+00:00","items":["3.02"],"status":"ready","headline":"Grayscale Horizen Trust issues 3.57M shares in private placement, raising $4.71M","summary_kind":"llm","event_type":"other_material","confidence":"high","bullets":["Issued 3,565,200 shares at NAV-based prices to accredited investors under Rule 506(c), raising $4,712,299.","Grayscale Securities acted as Authorized Participant; no underwriting discounts paid.","Shares outstanding increase to 10,403,200 as of December 23, 2024 (up from ~6.8M previously).","Proceeds (304,034.38984804 ZEN) represent additional Zen cryptocurrency held by the trust."],"consensus_eps_estimate":null,"consensus_eps_actual":null,"consensus_revenue_estimate":null,"consensus_revenue_actual":null,"consensus_period":null,"consensus_source":null,"sentiment":"neutral","materiality_score":0.7,"calibrated_materiality_score":0.7,"market_cap_usd":0.0,"market_cap_bucket":"microcap","market_cap_source":"finnhub_profile2","market_cap_as_of_date":"2026-05-28","daily_digest_date":null,"daily_digest_url":null,"daily_digest_rank":null},{"id":228739,"accession_number":"0000950103-24-006874","cik":1748945,"company_name":"Grayscale Horizen Trust (ZEN)","ticker":"HZEN","form_type":"8-K","filed_at":"2024-05-20T23:59:59+00:00","items":["5.02","9.01"],"status":"ready","headline":"Grayscale Horizen Trust sponsor CEO transition: Peter Mintzberg to succeed Sonnenshein","summary_kind":"llm","event_type":"leadership","confidence":"high","bullets":["Peter Mintzberg appointed CEO of Grayscale Investments, effective August 15, 2024; Michael Sonnenshein steps down immediately.","Edward McGee, CFO, will serve as interim principal executive officer until Mintzberg's start date.","Mintzberg joins from Goldman Sachs (Global Head of Strategy, Asset & Wealth Management); prior roles at BlackRock, Invesco.","Sonnenshein grew AUM from $60M to ~$30B and led court victory enabling first spot Bitcoin ETF uplisting."],"consensus_eps_estimate":null,"consensus_eps_actual":null,"consensus_revenue_estimate":null,"consensus_revenue_actual":null,"consensus_period":null,"consensus_source":null,"sentiment":"neutral","materiality_score":0.7,"calibrated_materiality_score":0.7,"market_cap_usd":0.0,"market_cap_bucket":"microcap","market_cap_source":"finnhub_profile2","market_cap_as_of_date":"2026-05-28","daily_digest_date":null,"daily_digest_url":null,"daily_digest_rank":null},{"id":247372,"accession_number":"0000950170-24-035634","cik":1748945,"company_name":"Grayscale Horizen Trust (ZEN)","ticker":"HZEN","form_type":"8-K","filed_at":"2024-03-25T23:59:59+00:00","items":["1.01","9.01"],"status":"ready","headline":"Grayscale Horizen Trust amends definition of 'Business Day' in Trust Agreement","summary_kind":"llm","event_type":"other_material","confidence":"high","bullets":["Amendment changes Business Day from bank closure to national securities exchange closure in NYC.","Effective March 22, 2024; no financial impact or operational change.","Modifies definition only; all other terms of Trust Agreement unchanged."],"consensus_eps_estimate":null,"consensus_eps_actual":null,"consensus_revenue_estimate":null,"consensus_revenue_actual":null,"consensus_period":null,"consensus_source":null,"sentiment":"neutral","materiality_score":0.1,"calibrated_materiality_score":0.1,"market_cap_usd":0.0,"market_cap_bucket":"microcap","market_cap_source":"finnhub_profile2","market_cap_as_of_date":"2026-05-28","daily_digest_date":null,"daily_digest_url":null,"daily_digest_rank":null},{"id":247371,"accession_number":"0000950170-24-027126","cik":1748945,"company_name":"Grayscale Horizen Trust (ZEN)","ticker":"HZEN","form_type":"8-K","filed_at":"2024-03-06T23:59:59+00:00","items":["4.01","9.01"],"status":"ready","headline":"Grayscale Horizen Trust replacing auditor; Marcum to exit after FY2024, KPMG to begin FY2025","summary_kind":"llm","event_type":"other_material","confidence":"high","bullets":["Audit Committee dismissed Marcum LLP as independent auditor, effective after completion of FY2024 audit (Sep 30, 2024).","Appointed KPMG LLP as new auditor for fiscal year ending September 30, 2025, no prior consultations with KPMG.","Marcum's reports for FY2023 and FY2022 contained no adverse opinion, only emphasis of matter on digital assets.","No disagreements or reportable events occurred during FY2023, FY2022, or subsequent interim period through March 1, 2024."],"consensus_eps_estimate":null,"consensus_eps_actual":null,"consensus_revenue_estimate":null,"consensus_revenue_actual":null,"consensus_period":null,"consensus_source":null,"sentiment":"neutral","materiality_score":0.2,"calibrated_materiality_score":0.2,"market_cap_usd":0.0,"market_cap_bucket":"microcap","market_cap_source":"finnhub_profile2","market_cap_as_of_date":"2026-05-28","daily_digest_date":null,"daily_digest_url":null,"daily_digest_rank":null},{"id":264831,"accession_number":"0000950170-23-072828","cik":1748945,"company_name":"Grayscale Horizen Trust (ZEN)","ticker":"HZEN","form_type":"8-K","filed_at":"2023-12-26T23:59:59+00:00","items":["8.01"],"status":"ready","headline":"Grayscale Horizen Trust sponsor board reshuffles: Silbert, Murphy out; Shifke as Chairman","summary_kind":"llm","event_type":"leadership","confidence":"high","bullets":["Barry Silbert and Mark Murphy resign from Grayscale Investments board effective Jan 1, 2024.","Mark Shifke appointed Chairman; Matthew Kummell and Edward McGee join board same date.","Shifke is DCG CFO; Kummell is DCG SVP Operations; McGee is Sponsor CFO.","New board consists of Shifke, Kummell, McGee, and Michael Sonnenshein."],"consensus_eps_estimate":null,"consensus_eps_actual":null,"consensus_revenue_estimate":null,"consensus_revenue_actual":null,"consensus_period":null,"consensus_source":null,"sentiment":"neutral","materiality_score":0.5,"calibrated_materiality_score":0.5,"market_cap_usd":0.0,"market_cap_bucket":"microcap","market_cap_source":"finnhub_profile2","market_cap_as_of_date":"2026-05-28","daily_digest_date":null,"daily_digest_url":null,"daily_digest_rank":null}],"next_cursor":null}