Who holds ZEC?
Reported holders
Each holder reports on its own schedule, so check the date beside each figure.
| Holder | Type | ZEC | Share of all ZEC | Value today | As of | Source |
|---|---|---|---|---|---|---|
Cypherpunk Technologies (CYPH)
A Nasdaq-listed company that holds ZEC as its main treasury asset and mines it. It aims to own 5% of all ZEC.
Market figures as reported on Cypherpunk's dashboard. mNAV is Cypherpunk's own calculation: its enterprise value divided by the value of its ZEC. Above 1 means the market values the company at more than the ZEC it holds.
ZEC held over time
| Date | What | ZEC | Price per ZEC | Cost | Value today | Gain / loss |
|---|
How transparent ZEC is spread
Every transparent address and its balance, from our own node's index. One address is not one holder: an exchange can hold many customers' ZEC in one address, and one person can use thousands. So this shows how concentrated addresses are, not people.
Addresses by balance
| Balance | Addresses | ZEC held | Share |
|---|
Share held by the largest addresses, day by day
Largest transparent addresses
| # | Address | Balance (ZEC) | Share of transparent ZEC | Share of all ZEC | Transactions | Last active |
|---|
Good to know
🏢 Treasury company or ETF?
A treasury company is an ordinary listed company whose main asset is ZEC; its share price can sit well above or below the value of the ZEC it holds. An ETF is a fund that only holds ZEC, and its share price tracks the value of that ZEC closely.
🔍 Why we can't check these on-chain
Both holders keep their ZEC with custodians and haven't published addresses, and shielded ZEC is private by design. So unlike everything else on AtlasZEC, these figures come from the holders, not from our node. We link the source for every number.
🧾 What proof of reserves could look like
A holder could share a viewing key, which lets anyone see a shielded balance without being able to spend it, or publish transparent addresses. If either holder does, AtlasZEC can show those balances live from our own node.
📏 How we measure share of supply
Each holding is divided by all ZEC in existence at the latest block, as counted by our Zebra node (including the dev fund lockbox). We read Cypherpunk's dashboard once a day and keep every day's figures. This page is information, not investment advice.
📊 About the address list
Only transparent addresses can be ranked; shielded balances are private by design. We don't label who owns an address. Before showing the list we check that every address balance adds up to the transparent total our node reports, and we record the spread once a day so it can be compared over time.