{"filings":[{"id":2520517,"accession_number":"0001193125-26-371276","cik":1748945,"company_name":"Grayscale Horizen Trust (ZEN)","ticker":"HZEN","form_type":"8-K","filed_at":"2026-08-27T20:07:44+00:00","items":["8.01"],"status":"ready","headline":"Grayscale Horizen Trust changes ZEN valuation benchmark to CoinDesk Benchmark Extended Rate","summary_kind":"llm","event_type":"other_material","confidence":"high","bullets":["Effective Sept 1, 2026, Trust switches NAV valuation from CoinDesk Horizen Reference Rate to CoinDesk Horizen Benchmark Extended Rate.","New Index is volume-weighted, calculated every 5 seconds over 24 hours, with outlier detection and inactivity de-weighting.","Illustrative constituent weights: Crypto.com 67.06%, Kraken 14.57%, LMAX Digital 11.88%, Bitstamp by Robinhood 6.49%.","Fallback cascade: Index, then Coin Metrics Real-Time Rate, then principal market spot, then Sponsor's good faith estimate.","Index Provider may alter methodology without consent; Sponsor may switch provider or change rules with SEC filing."],"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":1416200,"accession_number":"0001748945-26-000004","cik":1748945,"company_name":"Grayscale Horizen Trust (ZEN)","ticker":"HZEN","form_type":"8-K","filed_at":"2026-07-02T20:35:46+00:00","items":["5.02"],"status":"ready","headline":"Grayscale Horizen Trust sponsor appoints co-CFOs as Edward McGee steps down","summary_kind":"llm","event_type":"leadership","confidence":"high","bullets":["Edward McGee steps down as CFO and Principal Financial and Accounting Officer effective July 2, 2026, for personal reasons.","Kathryn Masci and Daniel Plourde appointed as interim Co-CFOs; Masci also becomes Principal Financial and Accounting Officer and Board member.","Masci has been with Grayscale since May 2020, most recently SVP Finance; Plourde joined Sep 2022, SVP Finance since Jan 2026.","McGee leaves on good terms after 7 years; no disagreement with company."],"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":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},{"id":301102,"accession_number":"0000950170-23-029651","cik":1748945,"company_name":"Grayscale Horizen Trust (ZEN)","ticker":"HZEN","form_type":"8-K","filed_at":"2023-06-23T23:59:59+00:00","items":["1.01","9.01"],"status":"ready","headline":"Grayscale Horizen Trust extends reference rate license with CoinDesk Indices to Feb 2025","summary_kind":"llm","event_type":"other_material","confidence":"high","bullets":["Amendment dated June 20, 2023 extends Reference Rate License Agreement term from Feb 29, 2024 to Feb 28, 2025.","Agreement governs use of CoinDesk Horizen Reference Rate to calculate Reference Rate Price for Trust shares.","Amendment renames reference provider from TradeBlock to CDI and includes redacted operational milestones and fee discounts.","No material financial terms disclosed; redacted portions deemed not material and competitively harmful."],"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":301101,"accession_number":"0000950170-23-029648","cik":1748945,"company_name":"Grayscale Horizen Trust (ZEN)","ticker":"HZEN","form_type":"8-K","filed_at":"2023-06-23T23:59:59+00:00","items":["8.01"],"status":"ready","headline":"Grayscale Horizen Trust Reference Rate loses Binance.US; switches to Coin Metrics Real-Time Rate","summary_kind":"llm","event_type":"regulatory","confidence":"high","bullets":["CoinDesk Indices removed Binance.US from the Horizen Reference Rate effective June 16, 2023.","Removal due to Binance.US suspending USD deposits/withdrawals and delisting USD trading pairs.","No remaining sufficient constituent exchanges; Reference Rate may become unavailable.","Sponsor will determine Reference Rate using Coin Metrics Real-Time Rate as alternative.","Sponsor retains discretion to select a different reference rate provider or calculation method."],"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":301100,"accession_number":"0000950170-23-014586","cik":1748945,"company_name":"Grayscale Horizen Trust (ZEN)","ticker":"HZEN","form_type":"8-K","filed_at":"2023-04-26T23:59:59+00:00","items":["8.01"],"status":"ready","headline":"Grayscale Horizen Trust removes Bittrex from reference rate; now uses Coinbase Pro and Binance.US","summary_kind":"llm","event_type":"other_material","confidence":"high","bullets":["Bittrex removed from CoinDesk Horizen Reference Rate due to ceasing U.S. customer service.","No new exchanges added; current constituents: Coinbase Pro and Binance.US.","Change effective April 21, 2023; quarterly reviews may alter constituents.","Reference Rate Provider may change venues or calculation method at any time."],"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":301099,"accession_number":"0000950170-23-011995","cik":1748945,"company_name":"Grayscale Horizen Trust (ZEN)","ticker":"HZEN","form_type":"8-K","filed_at":"2023-04-06T23:59:59+00:00","items":["8.01"],"status":"ready","headline":"Grayscale Horizen Trust adds Bittrex to reference rate constituent exchanges","summary_kind":"llm","event_type":"other_material","confidence":"high","bullets":["Effective April 4, 2023, Bittrex added to CoinDesk Horizen Reference Rate.","No exchanges removed; now includes Coinbase Pro, Binance.US, and Bittrex.","Change results from scheduled quarterly review meeting liquidity criteria.","Reference Rate Provider may change venues or calculation method at any time."],"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":320982,"accession_number":"0000950170-23-000287","cik":1748945,"company_name":"Grayscale Horizen Trust (ZEN)","ticker":"HZEN","form_type":"8-K","filed_at":"2023-01-06T23:59:59+00:00","items":["8.01"],"status":"ready","headline":"CoinDesk removes Bittrex from Horizen Trust reference rate due to low liquidity","summary_kind":"llm","event_type":"other_material","confidence":"high","bullets":["Bittrex removed from CoinDesk Horizen Reference Rate effective Jan 4, 2023, for failing minimum liquidity requirement.","No new constituent exchanges added; remaining exchanges are Coinbase Pro and Binance.US.","Reference Rate Provider may change trading venues or calculation methodology at any time; quarterly reviews scheduled.","Change could affect the Reference Rate Price used to value Grayscale Horizen Trust (ZEN) shares."],"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":339090,"accession_number":"0000950170-22-023533","cik":1748945,"company_name":"Grayscale Horizen Trust (ZEN)","ticker":"HZEN","form_type":"8-K","filed_at":"2022-11-09T23:59:59+00:00","items":["8.01"],"status":"ready","headline":"Grayscale Horizen Trust Sponsor appoints Hugh Ross to Audit Committee, replaces Silbert","summary_kind":"llm","event_type":"leadership","confidence":"high","bullets":["Hugh Ross, COO of Grayscale Investments, appointed to Audit Committee effective Nov 4, 2022.","Barry E. Silbert replaced on Audit Committee, remains Chairman of the Sponsor's board.","Audit Committee now comprises Michael Sonnenshein, Edward McGee, and Hugh Ross.","Ross has been COO since Feb 2021; previously COO at Horizon Kinetics, VP at Goldman Sachs."],"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":339089,"accession_number":"0000950170-22-019368","cik":1748945,"company_name":"Grayscale Horizen Trust (ZEN)","ticker":"HZEN","form_type":"8-K","filed_at":"2022-10-07T23:59:59+00:00","items":["8.01"],"status":"ready","headline":"Grayscale Horizen Trust shares now subject to 6-month holding period under Rule 144","summary_kind":"llm","event_type":"other_material","confidence":"high","bullets":["Minimum holding period for Shares purchased from Trust reduced to 6 months as of Oct 3, 2022, due to 90 days of Exchange Act reporting status.","As of Oct 3, 2022, 3,210,776 Shares are freely tradable and unrestricted.","Total issued and outstanding Shares unchanged at 6,838,000 since April 3, 2022."],"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":0.4,"calibrated_materiality_score":0.4,"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":339088,"accession_number":"0000950170-22-019173","cik":1748945,"company_name":"Grayscale Horizen Trust (ZEN)","ticker":"HZEN","form_type":"8-K","filed_at":"2022-10-03T23:59:59+00:00","items":["1.01","1.02","9.01"],"status":"ready","headline":"Grayscale Horizen Trust (ZEN) replaces Genesis with Grayscale Securities as distributor and sole authorized participant","summary_kind":"llm","event_type":"other_material","confidence":"high","bullets":["Effective Oct 3, 2022, Grayscale Securities (wholly-owned affiliate of Sponsor) becomes distributor, marketer, and sole Authorized Participant for ZEN.","Prior distributor and Authorized Participant Genesis Global Trading terminated; Genesis will continue as a Liquidity Provider for Grayscale Securities.","Grayscale Securities is a registered broker-dealer and FINRA member; its employees include FINRA-licensed staff from Sponsor and Digital Currency Group.","The Participant Agreement allows use of Liquidity Providers to source Horizen tokens for creation of shares."],"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":0.4,"calibrated_materiality_score":0.4,"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":356459,"accession_number":"0000950170-22-019040","cik":1748945,"company_name":"Grayscale Horizen Trust (ZEN)","ticker":"HZEN","form_type":"8-K","filed_at":"2022-09-29T23:59:59+00:00","items":["4.01","9.01"],"status":"ready","headline":"Grayscale Horizen Trust changes auditor to Marcum after Friedman practice combination","summary_kind":"llm","event_type":"other","confidence":"high","bullets":["Audit committee dismissed Friedman LLP and engaged Marcum LLP as independent registered public accounting firm, effective September 27, 2022.","Friedman's reports for years ended Sept 30, 2021 and 2020 contained no adverse opinion, except emphasis of matter on digital asset investments.","No disagreements with Friedman on accounting principles or audit scope through September 27, 2022.","Trust did not consult Marcum on any accounting matters prior to engagement."],"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}],"next_cursor":null}