FORM 8-K CURRENT REPORT
Grayscale Investments Sponsors, LLC has filed a Form 8-K with the U.S. Securities and Exchange Commission, documenting significant updates regarding its Grayscale Horizen Trust (ZEN). This report, dated October 13, 2025, fulfills the issuer’s obligations under the Securities Exchange Act of 1934.
Company Information
Grayscale Horizen Trust is incorporated in Delaware and operates under the Commission File Number 000-56435. The trust is registered with the IRS under the Employer Identification Number 83-6217411. Its principal office is located at 290 Harbor Drive, 4th Floor, Stamford, Connecticut, 06902, and can be contacted at 212-668-1427.
Emerging Growth Company Status
The report indicates that Grayscale is classified as an emerging growth company according to the definitions set forth in the Securities Act of 1933 and the Securities Exchange Act of 1934.
Management Changes
On October 13, 2025, Grayscale Investments announced a leadership transition. Matthew Kummell has resigned from his position on the Board of Directors of GSO Intermediate Holdings Corporation (GSOIH), which is the managing member of Grayscale Operating, LLC. In conjunction with this change, Simon Koster has been appointed to the Board. Koster currently serves as the Chief Strategy Officer at Digital Currency Group, Inc. (DCG), a prominent player in blockchain and digital asset investments. He oversees the investment team and manages a diverse portfolio that includes digital assets, subsidiaries, and numerous early-stage companies across 35 countries.
Background of Simon Koster
Before taking on his role as CSO, Koster was the CEO of Real Estate at DCG, where he led various real estate initiatives. His previous experience includes serving as CEO of The Collective, along with a decade of work at JDS Development Group, where he was pivotal in acquiring and developing high-profile projects in cities like New York and Miami. He holds a Bachelor’s degree from Rutgers University and a Master’s in Engineering from the University of Michigan.
Board Affiliations
Since 2023, Koster has been an active board member for Foundry and Luno. Additionally, he has been a director at Fortitude since 2024 and at Yuma since 2025; all these companies have connections with Grayscale.
SIGNATURES
This report has been duly authorized and signed on behalf of Grayscale Investments Sponsors, LLC, which serves as the sponsor for Grayscale Horizen Trust (ZEN). The report is officially signed by Edward McGee, the Chief Financial Officer.
