ZCSH / Grayscale Zcash Trust - SEC फाइलिंग, वार्षिक रिपोर्ट, प्रॉक्सी स्टेटमेंट

Grayscale Announces Strategic Expansion of Management Team and Board of Directors as Company Enters Next Phase in Its Evolution Broadened Management Team Brings Decades of Traditional Finance Experience to the Maturing Crypto Industry Board Expands t

Exhibit 99.1 Grayscale Announces Strategic Expansion of Management Team and Board of Directors as Company Enters Next Phase in Its Evolution Broadened Management Team Brings Decades of Traditional Finance Experience to the Maturing Crypto Industry Board Expands to Five as Founder Barry Silbert Returns as Board Chairman STAMFORD, Conn., - Grayscale Investments, the world's largest digital asset-foc

FORM 8-K

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 8-K CURRENT REPORT Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Date of Report (Date of earliest event reported): August 4, 2025 Grayscale Zcash Trust (ZEC) (Exact name of Registrant as Specified in Its Charter) Delaware 000-56433 82-6646113 (State or Other Jurisdiction of Incorporation) (Commiss

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2025 ☐ TRANSITION REPORT PURSUANT TO S

r UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2025 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number 000-56433 Grayscale Zcash Trus

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2025 ☐ TRANSITION REPORT PURSUANT TO

r UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2025 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number 000-56433 Grayscale Zcash Tru

Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers, Financial Statements and Exhibits

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 8-K CURRENT REPORT Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Date of Report (Date of earliest event reported): April 9, 2025 Grayscale Zcash Trust (ZEC) (Exact name of Registrant as Specified in Its Charter) Delaware 000-56433 82-6646113 (State or Other Jurisdiction of Incorporation) (Commissi

Grayscale Investments Appoints Diana Zhang as Chief Operating Officer

Exhibit 99.1 Grayscale Investments Appoints Diana Zhang as Chief Operating Officer Veteran asset management executive joins world’s largest crypto-focused asset management platform to support the firm’s growth trajectory STAMFORD, CT, April 9, 2025 - Grayscale Investments, the world’s largest crypto-focused asset management platform, today announced the appointment of Diana Zhang as Chief Operatin

Unregistered Sales of Equity Securities

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 8-K CURRENT REPORT Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Date of Report (Date of earliest event reported): March 18, 2025 Grayscale Zcash Trust (ZEC) (Exact name of Registrant as Specified in Its Charter) Delaware 000-56433 82-6646113 (State or Other Jurisdiction of Incorporation) (Commiss

Amendment No. 6 to the Index License Agreement, dated March 1, 2025, between the Sponsor and Index Provider.

Certain confidential information contained in this document, marked by [**], has been omitted because the Registrant has determined that the information (i) is not material and (ii) would likely cause competitive harm to the Registrant if publicly disclosed.

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2024 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number 000-56433 Grayscale Zcash Trust (ZEC

Foreside Assignment Agreement

Exhibit 10.3 ASSIGNMENT AND ASSUMPTION AGREEMENT This Assignment and Assumption Agreement (“Assignment Agreement”), dated as of December 20, 2024, is entered into by and among Foreside Fund Services, LLC (“ACA Foreside”), Grayscale Investments, LLC (“GSI”), Grayscale Operating, LLC (“GSO”) and Grayscale Investments Sponsors, LLC (“New Sponsor”). This Assignment Agreement shall be effective as of 9

Assignment and Assumption Agreement

Exhibit 10.1 CERTAIN IDENTIFIED INFORMATION HAS BEEN EXCLUDED FROM THIS EXHIBIT PURSUANT TO ITEM 601(B)(10) OF REGULATION S-K UNDER THE SECURITIES ACT OF 1933, AS AMENDED, BECAUSE IT IS BOTH NOT MATERIAL AND IS THE TYPE THAT THE REGISTRANT TREATS AS PRIVATE OR CONFIDENTIAL. INFORMATION THAT WAS OMITTED HAS BEEN NOTED IN THIS DOCUMENT WITH A PLACEHOLDER IDENTIFIED BY THE MARK “[***]”. ASSIGNMENT AN

Coinbase Assignment Agreement

Exhibit 10.2 CERTAIN IDENTIFIED INFORMATION HAS BEEN EXCLUDED FROM THIS EXHIBIT PURSUANT TO ITEM 601(B)(10) OF REGULATION S-K UNDER THE SECURITIES ACT OF 1933, AS AMENDED, BECAUSE IT IS BOTH NOT MATERIAL AND IS THE TYPE THAT THE REGISTRANT TREATS AS PRIVATE OR CONFIDENTIAL. INFORMATION THAT WAS OMITTED HAS BEEN NOTED IN THIS DOCUMENT WITH A PLACEHOLDER IDENTIFIED BY THE MARK “[***]”. ASSIGNMENT AG

Entry into a Material Definitive Agreement, Financial Statements and Exhibits, Other Events

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 8-K CURRENT REPORT Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Date of Report (Date of earliest event reported): January 1, 2025 Grayscale Zcash Trust (ZEC) (Exact name of Registrant as Specified in Its Charter) Delaware 000-56433 82-6646113 (State or Other Jurisdiction of Incorporation) (Commis

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 8-K CURRENT REPORT Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 8-K CURRENT REPORT Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Date of Report (Date of earliest event reported): December 22, 2024 Grayscale Zcash Trust (ZEC) (Exact name of Registrant as Specified in Its Charter) Delaware 000-56433 82-6646113 (State or Other Jurisdiction of Incorporation) (Comm

Unregistered Sales of Equity Securities

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 8-K CURRENT REPORT Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Date of Report (Date of earliest event reported): November 16, 2024 Grayscale Zcash Trust (ZEC) (Exact name of Registrant as Specified in Its Charter) Delaware 000-56433 82-6646113 (State or Other Jurisdiction of Incorporation) (Comm

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2024 ☐ TRANSITION REPORT PURSUANT

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2024 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number 000-56433 Grayscale Zcash T

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 8-K CURRENT REPORT Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 8-K CURRENT REPORT Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Date of Report (Date of earliest event reported): October 22, 2024 Grayscale Zcash Trust (ZEC) (Exact name of Registrant as Specified in Its Charter) Delaware 000-56433 82-6646113 (State or Other Jurisdiction of Incorporation) (Commi

Unregistered Sales of Equity Securities

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 8-K CURRENT REPORT Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Date of Report (Date of earliest event reported): September 27, 2024 Grayscale Zcash Trust (ZEC) (Exact name of Registrant as Specified in Its Charter) Delaware 000-56433 82-6646113 (State or Other Jurisdiction of Incorporation) (Com

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2024 ☐ TRANSITION REPORT PURSUANT TO S

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2024 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number 000-56433 Grayscale Zcash Trust

Other Events

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 8-K CURRENT REPORT Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Date of Report (Date of earliest event reported): July 28, 2024 Grayscale Zcash Trust (ZEC) (Exact name of Registrant as Specified in Its Charter) Delaware 000-56433 82-6646113 (State or Other Jurisdiction of Incorporation) (Commissi

Unregistered Sales of Equity Securities

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 8-K CURRENT REPORT Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Date of Report (Date of earliest event reported): June 29, 2024 Grayscale Zcash Trust (ZEC) (Exact name of Registrant as Specified in Its Charter) Delaware 000-56433 82-6646113 (State or Other Jurisdiction of Incorporation) (Commissi

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 8-K CURRENT REPORT Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 8-K CURRENT REPORT Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Date of Report (Date of earliest event reported): June 6, 2024 Grayscale Zcash Trust (ZEC) (Exact name of Registrant as Specified in Its Charter) Delaware 000-56433 82-6646113 (State or Other Jurisdiction of Incorporation) (Commissio

Unregistered Sales of Equity Securities

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 8-K CURRENT REPORT Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Date of Report (Date of earliest event reported): May 17, 2024 Grayscale Zcash Trust (ZEC) (Exact name of Registrant as Specified in Its Charter) Delaware 000-56433 82-6646113 (State or Other Jurisdiction of Incorporation) (Commissio

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 8-K CURRENT REPORT Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Date of Report (Date of earliest event reported): May 20, 2024 Grayscale Zcash Trus

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 8-K CURRENT REPORT Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Date of Report (Date of earliest event reported): May 20, 2024 Grayscale Zcash Trust (ZEC) (Exact name of Registrant as Specified in Its Charter) Delaware 000-56433 82-6646113 (State or Other Jurisdiction of Incorporation) (Commissio

Grayscale Investments® Announces CEO Transition  Peter Mintzberg Appointed Grayscale’s Chief Executive Officer Mintzberg to Join Firm and Grayscale’s Board of Directors, Effective August 15, 2024 

Exhibit 99.1 Grayscale Investments® Announces CEO Transition  Peter Mintzberg Appointed Grayscale’s Chief Executive Officer Mintzberg to Join Firm and Grayscale’s Board of Directors, Effective August 15, 2024  Stamford, CT, May 20, 2024 – Grayscale Investments, the world’s largest crypto asset manager, today announced the appointment of Peter Mintzberg as Chief Executive Officer, effective August

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2024 ☐ TRANSITION REPORT PURSUANT TO

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2024 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number 000-56433 Grayscale Zcash Trust

Amendment No. 3 to the Amended and Restated Declaration of Trust and Trust Agreement

Exhibit 4.1 AMENDMENT NO. 3 TO THE AMENDED AND RESTATED DECLARATION OF TRUST AND TRUST AGREEMENT This AMENDMENT NO. 3 (THE “AMENDMENT”) TO THE AMENDED AND RESTATED DECLARATION OF TRUST AND TRUST AGREEMENT of GRAYSCALE ZCASH TRUST (ZEC) is made and entered into as of the 22nd day of March, 2024, by and among GRAYSCALE INVESTMENTS, LLC, a Delaware limited liability company, DELAWARE TRUST COMPANY (f

Entry into a Material Definitive Agreement, Financial Statements and Exhibits

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 8-K CURRENT REPORT Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Date of Report (Date of earliest event reported): March 22, 2024 Grayscale Zcash Trust (ZEC) (Exact name of Registrant as Specified in Its Charter) Delaware 000-56433 82-6646113 (State or Other Jurisdiction of Incorporation) (Commiss

Financial Statements and Exhibits, Changes in Registrant's Certifying Accountant

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 8-K CURRENT REPORT Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Date of Report (Date of earliest event reported): March 1, 2024 Grayscale Zcash Trust (ZEC) (Exact name of Registrant as Specified in Its Charter) Delaware 000-56433 82-6646113 (State or Other Jurisdiction of Incorporation) (Commissi

Letter, dated March 6, 2024 from Marcum LLP to the SEC, regarding change in certifying accountant of the Trust.

Exhibit 16.1 March 6, 2024 Securities and Exchange Commission 100 F Street, N.E. Washington, DC 20549 Commissioners: We have read the statements made by Grayscale Zcash Trust (ZEC) under Item 4.01 of its Form 8-K dated March 6, 2024. We agree with the statements concerning our Firm in such Form 8-K; we are not in a position to agree or disagree with other statements of Grayscale Zcash Trust (ZEC)

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2023 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number 000-56433 Grayscale Zcash Trust (ZEC

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 8-K CURRENT REPORT Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 8-K CURRENT REPORT Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Date of Report (Date of earliest event reported): December 26, 2023 Grayscale Zcash Trust (ZEC) (Exact name of Registrant as Specified in Its Charter) Delaware 000-56433 82-6646113 (State or Other Jurisdiction of Incorporation) (Comm

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2023 ☐ TRANSITION REPORT PURSUANT

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2023 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number 000-56433 Grayscale Zcash T

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2023 ☐ TRANSITION REPORT PURSUANT TO S

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2023 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number 000-56433 Grayscale Zcash Trust

Amendment No. 1 to the Index License Agreement, dated June 20, 2023, between the Sponsor and Index Provider (incorporated by reference to Exhibit 10.1 of the current report on Form 8-K filed by the Registrant on June 23, 2023).

Exhibit 10.1 Certain confidential information contained in this document, marked by [***], has been omitted because the registrant has determined that the information (i) is not material and (ii) would likely cause competitive harm to the registrant if publicly disclosed. AMENDMENT No. 1 TO MASTER LICENSE AGREEMENT This Amendment No. 1 (this “Amendment”) is made as of June 20, 2023 (the “Effective

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 8-K CURRENT REPORT Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 8-K CURRENT REPORT Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Date of Report (Date of earliest event reported): June 20, 2023 Grayscale Zcash Trust (ZEC) (Exact name of Registrant as Specified in Its Charter) Delaware 000-56433 82-6646113 (State or Other Jurisdiction of Incorporation) (Commissi

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2023 ☐ TRANSITION REPORT PURSUANT TO

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2023 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number 000-56433 Grayscale Zcash Trust

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 8-K CURRENT REPORT Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 8-K CURRENT REPORT Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Date of Report (Date of earliest event reported): April 29, 2023 Grayscale Zcash Trust (ZEC) (Exact name of Registrant as Specified in Its Charter) Delaware 000-56433 82-6646113 (State or Other Jurisdiction of Incorporation) (Commiss

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2022 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number 000-56433 Grayscale® Zcash Trust (ZE

Description of Registrant’s Securities (incorporated by reference to Exhibit 4.6 of the Annual Report on Form 10-K filed by the Registrant on March 1, 2023).

Exhibit 4.6 DESCRIPTION OF SECURITIES REGISTERED UNDER SECTION 12 OF THE SECURITIES EXCHANGE ACT OF 1934 The following is a summary of the rights of the common units of fractional undivided beneficial interest (the “Shares”) of Grayscale Zcash Trust (ZEC) (the “Trust”), which is the only class of securities of the Trust that is registered under Section 12 of the Securities Exchange Act of 1934 (th

Other Events

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 8-K CURRENT REPORT Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Date of Report (Date of earliest event reported): January 28, 2023 Grayscale® Zcash Trust (ZEC) (Exact name of Registrant as Specified in Its Charter) Delaware 000-56433 82-6646113 (State or Other Jurisdiction of Incorporation) (Comm

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2022 ☐ TRANSITION REPORT PURSUANT

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2022 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number 000-56433 Grayscale® Zcash

October 11, 2022

October 11, 2022 Re: Grayscale Zcash Trust (ZEC) Amendment No. 3 to Draft Registration Statement on Form 10-12G Filed September 23, 2022 File No. 000-56433 U.S. Securities and Exchange Commission Division of Corporation Finance Office of Finance 100 F Street, N.E. Washington, D.C. 20549 Att?n: Christopher Wall Sonia Bednarowski Ben Phippen Amit Pande Ladies and Gentlemen: As requested in your lett

Other Events

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 8-K CURRENT REPORT Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Date of Report (Date of earliest event reported): October 3, 2022 Grayscale? Zcash Trust (ZEC) (Exact name of Registrant as Specified in Its Charter) Delaware 000-56433 82-6646113 (State or Other Jurisdiction of Incorporation) (Commi

Participant Agreement, dated October 3, 2022, between the Sponsor and Grayscale Securities, LLC, as an Authorized Participant (incorporated by reference to Exhibit 4.1 of the current report on Form 8-K filed by the Registrant on October 3, 2022).

Exhibit 4.1 Execution Version MASTER PARTICIPANT AGREEMENT This Master Participant Agreement (this ?Agreement?), dated as of October 3, 2022, is entered into by and among Grayscale Securities, LLC (the ?Authorized Participant?), and Grayscale Investments, LLC, a Delaware limited liability company, as sponsor (the ?Sponsor?) of each Trust listed on Schedule I to this Agreement (each, a ?Trust? and,

Entry into a Material Definitive Agreement, Termination of a Material Definitive Agreement, Financial Statements and Exhibits

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 8-K CURRENT REPORT Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Date of Report (Date of earliest event reported): October 3, 2022 Grayscale? Zcash Trust (ZEC) (Exact name of Registrant as Specified in Its Charter) Delaware 000-56433 82-6646113 (State or Other Jurisdiction of Incorporation) (Commi

Distribution and Marketing Agreement, dated October 3, 2022, between the Sponsor and Grayscale Securities, LLC (incorporated by reference to Exhibit 10.1 of the current report on Form 8-K filed by the Registrant on October 3, 2022).

Exhibit 10.1 Execution Version MASTER DISTRIBUTION AND MARKETING AGREEMENT MASTER DISTRIBUTION AND MARKETING AGREEMENT dated as of October 3, 2022 (this ?Agreement?) among Grayscale Investments, LLC, a Delaware limited liability company (the ?Sponsor?) the investment products sponsored or managed by the Sponsor listed on Schedule A hereto, as amended from time to time (each a ?Product? and togethe

Letter, dated September 29, 2022 from Friedman LLP to the SEC, regarding change in certifying accountant of the Company

Exhibit 16.1 September 29, 2022 Securities and Exchange Commission 100 F Street, N.E. Washington, D.C. 20549 Dear Commissioners: We have read the statements made by Grayscale Ethereum Trust (ETH), Grayscale Zcash Trust (ZEC), Grayscale Bitcoin Cash Trust (BCH), Grayscale Litecoin Trust (LTC), Grayscale Horizen Trust (ZEN), Grayscale Stellar Lumens Trust (XLM), and Grayscale Digital Large Cap Fund

Financial Statements and Exhibits, Changes in Registrant's Certifying Accountant

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 8-K CURRENT REPORT Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Date of Report (Date of earliest event reported): September 27, 2022 Grayscale® Zcash Trust (ZEC) (Exact name of Registrant as Specified in Its Charter) Delaware 000-56433 82-6646113 (State or Other Jurisdiction of Incorporation) (Co

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Joseph A. Hall +1 212 450 4565 [email protected] Davis Polk & Wardwell LLP 450 Lexington Avenue New York, NY 10017 davispolk.com September 23, 2022 Re: Grayscale Zcash Trust (ZEC) Amendment No. 2 to Registration Statement on Form 10 Filed August 16, 2022 File No. 000-56433 U.S. Securities and Exchange Commission Division of Corporation Finance Office of Finance 100 F Street, N.E. Washingto

Statements of Changes in Net Assets for the three months ended March 31, 2022 and 2021

Table of Contents Exhibit 99.1 Information Statement GRAYSCALE ZCASH TRUST (ZEC) Grayscale Zcash Trust (ZEC) (formerly known as ?Zcash Investment Trust?) (the ?Trust?) issues common units of fractional undivided beneficial interest (?Shares?), which represent ownership in the Trust. The Trust?s purpose is to hold Zcash (?ZEC?), which are digital assets that are created and transmitted through the

As filed with the Securities and Exchange Commission on September 23, 2022

As filed with the Securities and Exchange Commission on September 23, 2022 File No.

Statements of Changes in Net Assets for the three months ended March 31, 2022 and 2021

Table of Contents Exhibit 99.1 Information Statement GRAYSCALE ZCASH TRUST (ZEC) Grayscale Zcash Trust (ZEC) (formerly known as “Zcash Investment Trust”) (the “Trust”) issues common units of fractional undivided beneficial interest (“Shares”), which represent ownership in the Trust. The Trust’s purpose is to hold Zcash (“ZEC”), which are digital assets that are created and transmitted through the

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Joseph A. Hall +1 212 450 4565 [email protected] Davis Polk & Wardwell LLP 450 Lexington Avenue New York, NY 10017 davispolk.com August 16, 2022 Re: Grayscale Zcash Trust (ZEC) Amendment No. 1 to Registration Statement on Form 10 Filed June 29, 2022 File No. 000-56433 U.S. Securities and Exchange Commission Division of Corporation Finance Office of Finance 100 F Street, N.E. Washington, D.

As filed with the Securities and Exchange Commission on August 16, 2022

10-12G/A 1 d348131d1012ga.htm 10-12G/A As filed with the Securities and Exchange Commission on August 16, 2022 File No. 000-56433 UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Amendment No. 2 to FORM 10 GENERAL FORM FOR REGISTRATION OF SECURITIES PURSUANT TO SECTION 12(b) OR 12(g) OF THE SECURITIES EXCHANGE ACT OF 1934 Grayscale Zcash Trust (ZEC) (Exact Name of Registrant

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2022 ☐ TRANSITION REPORT PURSUANT TO S

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2022 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number 000-56433 Grayscale® Zcash Trust

Amended and Restated Custodian Agreement, dated June 29, 2022, between the Sponsor and the Custodian (incorporated by reference to Exhibit 10.1 of the Quarterly Report on Form 10-Q filed by the Registrant on August 5, 2022).

Exhibit 10.1 Certain confidential information contained in this document, marked by [***], has been omitted because the registrant has determined that the information (i) is not material and (ii) is the type that the registrant treats as private or confidential. Execution Version AMENDED AND RESTATED MASTER COINBASE CUSTODY TRUST COMPANY CUSTODIAL SERVICES AGREEMENT This Amended and Restated Maste

Old Index License Agreement, dated February 28, 2019, between the Sponsor and the Index Provider

EX-10.5 3 d348131dex105.htm EX-10.5 Exhibit 10.5 Certain confidential information contained in this document, marked by [**], has been omitted because Grayscale Zcash Trust (ZEC) has determined that the information (i) is not material and (ii) would likely cause competitive harm to Grayscale Zcash Trust (ZEC) if publicly disclosed. TradeBlock, Inc. 156 5th Ave, 7th Floor New York, NY 10010 TradeBl

Statements of Changes in Net Assets for the three months ended March 31, 2022 and 2021

Table of Contents Exhibit 99.1 Information Statement GRAYSCALE ZCASH TRUST (ZEC) Grayscale Zcash Trust (ZEC) (formerly known as “Zcash Investment Trust”) (the “Trust”) issues common units of fractional undivided beneficial interest (“Shares”), which represent ownership in the Trust. The Trust’s purpose is to hold Zcash (“ZEC”), which are digital assets that are created and transmitted through the

Amendment No. 2 to the Amended and Restated Declaration of Trust and Trust Agreement

EX-4.3 2 d348131dex43.htm EX-4.3 Exhibit 4.3 AMENDMENT NO. 2 TO THE AMENDED AND RESTATED DECLARATION OF TRUST AND TRUST AGREEMENT This AMENDMENT NO. 2 (THE “AMENDMENT”) TO THE AMENDED AND RESTATED DECLARATION OF TRUST AND TRUST AGREEMENT of GRAYSCALE ZCASH TRUST (ZEC) is made and entered into as of the 28th day of June, 2022, by and among GRAYSCALE INVESTMENTS, LLC, a Delaware limited liability co

As filed with the Securities and Exchange Commission on June 28, 2022

10-12G/A 1 d348131d1012ga.htm 10-12G/A As filed with the Securities and Exchange Commission on June 28, 2022 File No. 000-56433 UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Amendment No. 1 to FORM 10 GENERAL FORM FOR REGISTRATION OF SECURITIES PURSUANT TO SECTION 12(b) OR 12(g) OF THE SECURITIES EXCHANGE ACT OF 1934 Grayscale Zcash Trust (ZEC) (Exact Name of Registrant a

* * * June 28, 2022 6

CORRESP 1 filename1.htm Joseph A. Hall +1 212 450 4565 [email protected] Davis Polk & Wardwell LLP 450 Lexington Avenue New York, NY 10017 davispolk.com June 28, 2022 Re: Grayscale Zcash Trust (ZEC) Registration Statement on Form 10 Filed May 5, 2022 File No. 000-56433 U.S. Securities and Exchange Commission Division of Corporation Finance Office of Finance 100 F Street, N.E. Washington, D

Amended and Restated Declaration of Trust and Trust Agreement (incorporated by reference to Exhibit 4.1 of the Registration Statement on Form 10 filed by the Registrant on May 5, 2022).

EX-4.1 2 d348131dex41.htm EX-4.1 Exhibit 4.1 AMENDED AND RESTATED DECLARATION OF TRUST AND TRUST AGREEMENT OF ZCASH INVESTMENT TRUST Dated as of July 3, 2018 By and Among GRAYSCALE INVESTMENTS, LLC DELAWARE TRUST COMPANY and THE SHAREHOLDERS TABLE OF CONTENTS Page No. ARTICLE I DEFINITIONS; THE TRUST SECTION 1.1 Definitions. 1 SECTION 1.2 Name. 7 SECTION 1.3 Delaware Trustee; Offices. 7 SECTION 1.

Statements of Changes in Net Assets for the years ended December 31, 2021 and 2020

Table of Contents Exhibit 99.1 Information Statement GRAYSCALE ZCASH TRUST (ZEC) Grayscale Zcash Trust (ZEC) (formerly known as “Zcash Investment Trust”) (the “Trust”) issues common units of fractional undivided beneficial interest (“Shares”), which represent ownership in the Trust. The Trust’s purpose is to hold Zcash (“ZEC”), which are digital assets that are created and transmitted through the

Form of Participant Agreement

EX-4.5 4 d348131dex45.htm EX-4.5 Exhibit 4.5 MASTER PARTICIPANT AGREEMENT This Master Participant Agreement (this “Agreement”), dated as of January 11, 2019, is entered into by and among Genesis Global Trading, Inc. (the “Authorized Participant”), and Grayscale Investments, LLC, a Delaware limited liability company, as sponsor (the “Sponsor”) of each Trust listed on Schedule I to this Agreement (e

Transfer Agency and Service Agreement (incorporated by reference to Exhibit 10.4 of the Registration Statement on Form 10 filed by the Registrant on May 5, 2022).

EX-10.4 8 d348131dex104.htm EX-10.4 Exhibit 10.4 Requirements of Continental Stock Transfer & Trust Company As Transfer Agent and Registrar Requirements of Continental Stock Transfer & Trust Company as Transfer Agent and Registrar 1. Agreement and Certified Copy of Board Resolution for our Appointment as Transfer Agent and Registrar. 2. Charter or Certificate of Incorporation and any Amendments th

Amendment No. 1 to the Amended and Restated Declaration of Trust and Trust Agreement (incorporated by reference to Exhibit 4.2 of the Registration Statement on Form 10 filed by the Registrant on May 5, 2022).

EX-4.2 3 d348131dex42.htm EX-4.2 Exhibit 4.2 AMENDMENT NO. 1 TO THE AMENDED AND RESTATED DECLARATION OF TRUST AND TRUST AGREEMENT This AMENDMENT NO. 1 (THE “AMENDMENT”) TO THE AMENDED AND RESTATED DECLARATION OF TRUST AND TRUST AGREEMENT of ZCASH INVESTMENT TRUST is made and entered into as of the 11th day of January, 2019, by and among GRAYSCALE INVESTMENTS, LLC, a Delaware limited liability comp

Custodian Agreement

Exhibit 10.1 Certain confidential information contained in this document, marked by [**], has been omitted because Grayscale Zcash Trust (ZEC) has determined that the information (i) is not material and (ii) would likely cause competitive harm to Grayscale Zcash Trust (ZEC) if publicly disclosed. Execution Version TRUST COMPANY CUSTODIAL SERVICES AGREEMENT This Custodial Services Agreement (the ?A

As filed with the Securities and Exchange Commission on May 4, 2022

As filed with the Securities and Exchange Commission on May 4, 2022 File No. 000- UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10 GENERAL FORM FOR REGISTRATION OF SECURITIES PURSUANT TO SECTION 12(b) OR 12(g) OF THE SECURITIES EXCHANGE ACT OF 1934 Grayscale Zcash Trust (ZEC) (Exact Name of Registrant as Specified in Its Charter) Delaware 82-6646113 (State or Other J

Index License Agreement, dated February 1, 2022, between the Sponsor and the Index Provider (incorporated by reference to Exhibit 10.3 of the Registration Statement on Form 10 filed by the Registrant on May 5, 2022).

Exhibit 10.3 Certain confidential information contained in this document, marked by [**], has been omitted because the Registrant has determined that the information (i) is not material and (ii) would likely cause competitive harm to the Registrant if publicly disclosed. CoinDesk Indices, Inc. 250 Park Avenue South, 2nd Floor New York, NY 10003 Master Index License Agreement This Master Index Lice

Distribution and Marketing Agreement

Exhibit 10.2 Execution Version MASTER DISTRIBUTION AND MARKETING AGREEMENT MASTER DISTRIBUTION AND MARKETING AGREEMENT dated as of November 15, 2019 (this ?Agreement?) among Grayscale Investments, LLC, a Delaware limited liability company (the ?Sponsor?) the investment products sponsored or managed by the Sponsor listed on Schedule A hereto, as amended from time to time (each a ?Product? and toget