secwatch.observer — SEC 8-K summary
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Issuer:     Grayscale Zcash Trust (ZEC) (ZCSH)
CIK:        0001720265
Form:       8-K
Filed at:   2025-12-23T23:59:59+00:00
Accession:  0001193125-25-330977
Event type: other_material
Sentiment:  neutral
Materiality: 0.40
Item codes: 8.01
LLM model:  deepseek-v4-flash:cloud@v2

Grayscale Zcash Trust removes Bitfinex from price index due to liquidity failure
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- Effective Dec 21, 2025, Bitfinex removed from CoinDesk Zcash Price Index for failing minimum liquidity requirement.
- No new trading platforms added in the quarterly review; remaining constituents: Coinbase, Kraken, Gemini.
- Index Provider may change constituents at any time; next scheduled quarterly review will assess criteria.
- Trust's share value is derived from the Index Price, making index composition material to net asset value.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1720265/000119312525330977/0001193125-25-330977-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1720265/000119312525330977/zcsh-20251221.htm
  HTML page:      https://secwatch.observer/filing/0001193125-25-330977

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer