{"schema_version":"secwatch.filing_event.v1","accession":"0001193125-26-371276","form_type":"8-K","ticker":"HZEN","cik":"0001748945","company_name":"Grayscale Horizen Trust (ZEN)","filed_at":"2026-08-27T20:07:44+00:00","discovered_at":"2026-08-27T20:09:01.217640+00:00","generated_at":"2026-08-27T20:09:17.443112+00:00","sec_items":["8.01"],"event_type":"other_material","sentiment":"neutral","materiality_score":0.5,"calibrated_materiality_score":0.5,"confidence":"high","headline":"Grayscale Horizen Trust changes ZEN valuation benchmark to CoinDesk Benchmark Extended Rate","bullets":["Effective Sept 1, 2026, Trust switches NAV valuation from CoinDesk Horizen Reference Rate to CoinDesk Horizen Benchmark Extended Rate.","New Index is volume-weighted, calculated every 5 seconds over 24 hours, with outlier detection and inactivity de-weighting.","Illustrative constituent weights: Crypto.com 67.06%, Kraken 14.57%, LMAX Digital 11.88%, Bitstamp by Robinhood 6.49%.","Fallback cascade: Index, then Coin Metrics Real-Time Rate, then principal market spot, then Sponsor's good faith estimate.","Index Provider may alter methodology without consent; Sponsor may switch provider or change rules with SEC filing."],"urls":{"canonical":"https://secwatch.observer/filing/0001193125-26-371276","json":"https://secwatch.observer/filing/0001193125-26-371276.json","markdown":"https://secwatch.observer/filing/0001193125-26-371276.md","text":"https://secwatch.observer/filing/0001193125-26-371276.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/1748945/000119312526371276/0001193125-26-371276-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/1748945/000119312526371276/hzen-20260827.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-08-27T20:09:17.443112+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"}