---
schema_version: "secwatch.filing_event.v1"
accession: "0000950103-25-004592"
form_type: "8-K"
ticker: "ZCSH"
cik: "0001720265"
company_name: "Grayscale Zcash Trust (ZEC)"
filed_at: "2025-04-09T23:59:59+00:00"
generated_at: "2026-05-23T18:25:24.808524+00:00"
event_type: "leadership"
sentiment: "neutral"
materiality_score: 0.6
calibrated_materiality_score: 0.6
confidence: "high"
source: SEC EDGAR
---

# Grayscale appoints Diana Zhang as COO effective May 6, 2025; Hugh Ross steps down

## Summary
- Diana Zhang named Chief Operating Officer of Grayscale Operating, LLC, effective May 6, 2025.
- Zhang succeeds Hugh Ross, who served as COO since 2021; Ross will assist transition until May 31, 2025.
- Zhang previously held executive roles at Bridgewater Associates (Deputy to co-CEO, COO of Investment Research) and BlockTower Capital.
- Zhang will report to CEO Peter Mintzberg; appointment approved by GSO Intermediate Holdings Corporation.
- Ross oversaw launch of first digital asset exchange-traded products during tenure.

## SEC filing metadata
- accession: 0000950103-25-004592
- form_type: 8-K
- ticker: ZCSH
- cik: 0001720265
- company_name: Grayscale Zcash Trust (ZEC)
- filed_at: 2025-04-09T23:59:59+00:00
- event_type: leadership
- sentiment: neutral
- materiality_score: 0.6
- calibrated_materiality_score: 0.6
- confidence: high
- sec_items: 5.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1720265/000095010325004592/0000950103-25-004592-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1720265/000095010325004592/dp227439_8k-zcsh.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000950103-25-004592
- JSON: https://secwatch.observer/filing/0000950103-25-004592.json
- Plain text: https://secwatch.observer/filing/0000950103-25-004592.txt

## Key facts
- Executive change
  Diana Zhang was appointed as Chief Operating Officer at Grayscale Zcash Trust (ZEC).
  - Action: appointed
  - Role: Chief Operating Officer
  source text: the appointment of Diana Zhang to serve as the new Chief Operating Officer of Grayscale Operating, LLC, effective May 6, 2025.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1720265/000095010325004592/0000950103-25-004592-index.htm
- Executive change
  Hugh Ross departed as Chief Operating Officer at Grayscale Zcash Trust (ZEC).
  - Action: stepped down
  - Role: Chief Operating Officer
  source text: Hugh Ross, the current Chief Operating Officer of Grayscale Operating, LLC, who has decided to step down from his position and is expected to remain with Grayscale to assist with the transition of his responsibilities until his departure on or prior to May 31, 2025.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1720265/000095010325004592/0000950103-25-004592-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.