---
schema_version: "secwatch.filing_event.v1"
accession: "0000950170-24-027126"
form_type: "8-K"
ticker: "HZEN"
cik: "0001748945"
company_name: "Grayscale Horizen Trust (ZEN)"
filed_at: "2024-03-06T23:59:59+00:00"
generated_at: "2026-06-05T02:47:54.717098+00:00"
event_type: "other_material"
sentiment: "neutral"
materiality_score: 0.2
calibrated_materiality_score: 0.2
confidence: "high"
source: SEC EDGAR
---

# Grayscale Horizen Trust replacing auditor; Marcum to exit after FY2024, KPMG to begin FY2025

## Summary
- 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.

## SEC filing metadata
- accession: 0000950170-24-027126
- form_type: 8-K
- ticker: HZEN
- cik: 0001748945
- company_name: Grayscale Horizen Trust (ZEN)
- filed_at: 2024-03-06T23:59:59+00:00
- event_type: other_material
- sentiment: neutral
- materiality_score: 0.2
- calibrated_materiality_score: 0.2
- confidence: high
- sec_items: 4.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1748945/000095017024027126/0000950170-24-027126-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1748945/000095017024027126/hzen-20240301.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000950170-24-027126
- JSON: https://secwatch.observer/filing/0000950170-24-027126.json
- Plain text: https://secwatch.observer/filing/0000950170-24-027126.txt

## Key facts
- Auditor Changes
  Grayscale Horizen Trust (ZEN) dismissed Marcum LLP as its auditor.
  - Action: dismissal
  - Auditor: Marcum LLP
  - Successor: KPMG LLP
  source text: On March 1, 2024, the Audit Committee of the Board of Directors of Grayscale Investments, LLC, the sponsor (the “Sponsor”) of Grayscale Horizen Trust (ZEN) (the “Trust”), approved the dismissal of the current independent registered public accounting firm of the Trust, Marcum LLP (“Marcum”)
  evidence_url: https://www.sec.gov/Archives/edgar/data/1748945/000095017024027126/0000950170-24-027126-index.htm
- Auditor Changes
  Grayscale Horizen Trust (ZEN) engaged KPMG LLP as its auditor.
  - Action: engagement
  - Auditor: KPMG LLP
  source text: On March 1, 2024, the Audit Committee of the Board of Directors of the Sponsor approved the engagement of KPMG LLP (“KPMG”) to be the Trust’s independent registered public accounting firm
  evidence_url: https://www.sec.gov/Archives/edgar/data/1748945/000095017024027126/0000950170-24-027126-index.htm

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