ZCSH Grayscale ZCash Trust (QX)

Item 8.01 Other Events.

Pursuant to Rule 144 of the Securities Act of 1933, as amended (the “Securities Act”), Grayscale Zcash Trust (ZEC) (the “Trust”) has been subject to a minimum one year holding period for the common units of fractional undivided beneficial interest in and ownership of the Trust (“Shares”) purchased from the Trust. Rule 144(d)(1)(i) sets a six-month holding period for securities sold by an issuer that has been subject to the reporting requirements under section 13 or 15(d) of the Securities Exchange Act of 1934, as amended (the “Exchange Act”) for a period of at least 90 days. The Trust filed its registration statement on Form 10 to register its Shares pursuant to Section 12(g) of the Exchange Act on May 5, 2022, and the registration statement became effective on July 5, 2022, making the Trust, as of July 5, 2022, subject to the reporting requirements of Section 13 under the Exchange Act. On October 3, 2022, the applicable holding period for the Shares changed because the Trust has been subject to the reporting requirements of Section 13 under the Exchange Act for a period of 90 days. As a result, beginning October 3, 2022, a minimum six-month holding period applies to all Shares purchased from the Trust, including all Shares purchased prior to April 3, 2022, in addition to other restrictions that may be required by Rule 144. As of October 3, 2022, there were 3,063,485 Shares freely tradable and unrestricted, and a total of 3,777,700 issued and outstanding. As of April 3, 2022, there were a total of 3,777,700 Shares issued and outstanding.