{"schema_version":"secwatch.filing_event.v1","accession":"0000950170-25-096921","form_type":"8-K","ticker":"HZEN","cik":"0001748945","company_name":"Grayscale Horizen Trust (ZEN)","filed_at":"2025-07-18T23:59:59+00:00","discovered_at":"2026-05-14T18:02:44.868145+00:00","generated_at":"2026-05-18T05:48:00.868791+00:00","sec_items":["7.01"],"event_type":"other_material","sentiment":"neutral","materiality_score":0.6,"calibrated_materiality_score":0.6,"confidence":"high","headline":"Grayscale Horizen Trust to migrate ZEN tokens to Base blockchain by July 23, 2025; viability review by Dec 2025","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."],"urls":{"canonical":"https://secwatch.observer/filing/0000950170-25-096921","json":"https://secwatch.observer/filing/0000950170-25-096921.json","markdown":"https://secwatch.observer/filing/0000950170-25-096921.md","text":"https://secwatch.observer/filing/0000950170-25-096921.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/1748945/000095017025096921/0000950170-25-096921-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/1748945/000095017025096921/hzen-20250718.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-05-18T05:48:00.868791+00:00"},"review":{"review_status":"machine_generated","human_reviewed":false,"corrected":false,"correction_note":null,"correction_timestamp":null,"superseded_by":null,"related_filings":[]},"source_grounded_claims":[],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}