Grayscale Digital Large Cap Fund Q3 Holdings:

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Zen Investment Trust


A secure and private platform for money, messages, & media

Overview
Market Performance
Resources

Zen Investment Trust’s shares are the first securities solely invested in and deriving value from the price of ZEN.

Zen Investment Trust enables investors to gain exposure to the price movement of ZEN through a traditional investment vehicle, without the challenges of buying, storing, and safekeeping ZEN.

Investment Objective Shares track the ZEN market price, less fees and expenses*
Benchmark Index TradeBlock ZEN Composite 24-hour VWAP
CUSIP 98936H105
ISIN US98936H1059
Inception Date 08/06/2018
Annual Fee 2.5%
AUM $2.2M‡
Shares Outstanding 333,500‡
ZEN per Share 0.99208600‡
Independent Auditor: Friedman LLP
Legal Counsel: Davis Polk & Wardwell LLP
Transfer Agent: Continental Stock Transfer & Trust

* Zen Investment Trust does not currently operate a redemption program and may halt creations from time to time. The Trust may, but will not be required to, seek regulatory approval to operate a redemption program.

** Valuation represents the ZEN Holdings of ZEN Trust shares
‡ As of November 30, 2018

Titled, auditable ownership through a traditional investment vehicle

Zen Investment Trust is a traditional investment vehicle with shares titled in the investors name, providing a familiar structure for financial and tax advisors and easy transferability to beneficiaries under estate laws.

Eligible for tax-advantaged accounts

Shares of Zen Investment Trust are eligible to be held in certain IRA, Roth IRA, and other brokerage and investor accounts.

Supported by a network of trusted service providers

Davis Polk & Wardwell LLP serves as legal counsel to the Sponsor of Zen Investment Trust. Financial statements for Zen Investment Trust are audited annually by Friedman LLP.

Robust security and storage

The private keys for Zen Investment Trust’s assets are maintained with Digital Asset Custody Company, Inc. and protected by intense multi-factor security procedures.

The Zen Investment Trust’s shares are the first securities solely invested in and deriving value from the price of ZEN.

The Zen Investment Trust provides a secure structure to gain exposure to the price performance of ZEN.

*Past performance is not necessarily indicative of future results.
ZEN Holdings/Share
2018-12-10 4.70
2018-12-07 4.53
2018-12-06 5.23
2018-12-04 6.01
2018-12-03 6.14
2018-11-30 6.56
2018-11-29 6.96
2018-11-28 6.76
2018-11-27 5.75
2018-11-26 6.36
2018-11-23 7.72
2018-11-21 8.27
2018-11-20 8.47
2018-11-19 10.26
2018-11-16 11.97
2018-11-15 11.43
2018-11-14 12.63
2018-11-13 13.58
2018-11-12 14.01
2018-11-09 14.96
2018-11-08 14.93
2018-11-07 14.83
2018-11-06 14.14
2018-11-05 13.78
2018-11-02 14.49
2018-11-01 16.00
2018-10-31 13.12
2018-10-30 13.17
2018-10-29 13.67
2018-10-26 13.57
2018-10-25 13.89
2018-10-24 13.92
2018-10-23 13.55
2018-10-22 13.40
2018-10-19 12.98
2018-10-18 13.34
2018-10-17 13.93
2018-10-16 12.90
2018-10-15 13.26
2018-10-12 13.53
2018-10-11 14.42
2018-10-10 15.55
2018-10-09 15.76
2018-10-08 15.77
2018-10-05 16.12
2018-10-04 16.23
2018-10-03 16.20
2018-10-02 16.88
2018-10-01 17.92
2018-09-28 16.69
2018-09-27 15.98
2018-09-26 15.99
2018-09-25 16.16
2018-09-24 16.31
2018-09-21 15.84
2018-09-20 15.28
2018-09-19 14.78
2018-09-18 15.12
2018-09-17 15.75
2018-09-14 15.86
2018-09-13 15.77
2018-09-12 14.73
2018-09-11 15.35
2018-09-10 15.78
2018-09-07 17.52
2018-09-06 17.32
2018-09-05 18.42
2018-09-04 19.78
2018-08-31 18.56
2018-08-30 18.51
2018-08-29 19.43
2018-08-28 19.44
2018-08-27 19.02
2018-08-24 20.24
2018-08-23 19.67
2018-08-22 21.24
2018-08-21 20.03
2018-08-20 19.81
2018-08-17 20.28
2018-08-16 18.80
2018-08-15 18.84
2018-08-14 17.65
2018-08-13 19.36
2018-08-10 21.25
2018-08-09 21.34
2018-08-08 20.92
2018-08-07 23.24
2018-08-06 23.10
ZEN Holdings per Share*
At close as of 12/10/2018
$4.70
Day Change 3.75%
Returns‡

At close as of 12/10/2018

1 Day 1 Month 3 Months YTD 12 Months Since Inception
ZEN Holdings* 3.75% -68.58% -70.22% -79.65% - -79.65%

Past performance is not necessarily indicative of future results.

* ZEN Holdings per Share is calculated daily at 4pm ET, based on a TradeBlock ZEN Composite 24-hour VWAP. For more information about how ZEN Holdings is calculated, please refer to the private placement memorandum.

‡ Since inception 08/06/2018

Zen Investment Trust in the News

09.06.18

Grayscale Investments Launches Zen Investment Trust

NEW YORK, Sept. 6, 2018 /PRNewswire/ -- Grayscale Investments, LLC, a global leader in digital currency asset management, today announced the launch of Zen Investment Trust, a single-asset investment vehicle solely comprised of ZEN, a privacy-focused digital currency. Zen Investment Trust is the eighth single-asset investment product introduced by Grayscale, and the first security solely invested in ZEN. In addition to its single-asset products, Grayscale also manages Digital Large Cap Fund™, a diversified investment product that provides exposure to the top digital currencies by market cap.

PR Newswire
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