Grayscale Horizen Trust sponsor reorganized internally; no operational impact

Grayscale Horizen Trust (ZEN)

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.

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