Grayscale Horizen Trust to migrate ZEN tokens to Base blockchain by July 23, 2025; viability review by Dec 2025

Grayscale Horizen Trust (ZEN)

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.

item 7.01

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