A proposed Zcash exchange-traded fund backed by entities tied to the Winklevoss family has filed a registration statement with the US Securities and Exchange Commission, setting out plans to list on the Nasdaq Stock Market under the ticker WINK. The filing says the fund would hold ZEC directly rather than using synthetic exposure, with Winklevoss Asset Services acting as sponsor and Gemini Trust Company serving as custodian for the token holdings. The product would charge a 0.25% annual sponsor fee and would not rely on leverage or derivatives to meet its investment objective.
The registration statement also says Winklevoss Capital Fund, through one or more affiliates, has expressed interest in buying as much as $100 million of shares in the proposed ETF, though the filing notes that this indication is not binding. If approved, the fund would give investors a way to access Zcash through traditional brokerage accounts without directly purchasing or holding the privacy-focused cryptocurrency. The filing comes as Grayscale’s Zcash ETF, trading under the ticker ZCSH, is already available in the US market. CoinGecko data cited in the report shows ZEC has risen more than 735% over the past year, reaching a market capitalization of about $23 billion, with the token trading at roughly $1,354 on Tuesday.
A proposed exchange-traded fund designed to track the price of Zcash has filed a registration statement with the US Securities and Exchange Commission. The filing says the Winklevoss Zcash ETF would hold ZEC directly and seek to list on the Nasdaq Stock Market under the ticker WINK.
Fund structure and custody
According to the filing, Winklevoss Asset Services would sponsor the fund, while affiliated entity Gemini Trust Company would act as custodian for the ETF’s ZEC holdings. The proposed product would charge a 0.25% annual sponsor fee and would not use leverage or derivatives to pursue its investment objective.
The registration statement also says Winklevoss Capital Fund, through one or more affiliates, has indicated interest in purchasing up to $100 million in shares of the proposed ETF. The filing adds that the potential investment is not binding.
Brokerage access to Zcash exposure
If approved, the ETF would offer investors exposure to Zcash through a traditional brokerage account, removing the need to directly buy or hold the privacy-focused cryptocurrency. Zcash uses zero-knowledge proofs to enable shielded transactions that can conceal transaction amounts as well as the identities of senders and recipients.
Existing US market product
The proposed Winklevoss fund would enter a market where Grayscale’s Zcash ETF, trading under the ticker ZCSH, is already available in the United States. Grayscale recently said it would carry out a 3-for-1 share split for that fund.
ZEC market data cited in the report
CoinGecko data cited in the report shows ZEC has climbed more than 735% over the past year, lifting its market capitalization to about $23 billion. On Tuesday, the token was trading at roughly $1,354, making it the 10th-largest cryptocurrency by market value.
The source material also referenced Eric Balchunas.
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