An exchange-traded fund tied to Zcash, supported by the Winklevoss twins, has submitted a registration statement to the U.S. Securities and Exchange Commission with the aim of listing on the Nasdaq exchange.
ETF filing details
The proposed vehicle intends to track the price movement of Zcash (ZEC) by holding the cryptocurrency itself, without employing leverage or derivative contracts. The fund plans to trade under the ticker WINK once approved. The filing outlines an annual sponsor fee of 0.25 percent, which is intended to cover operational costs.
Sponsorship and custody
Winklevoss Asset Services will serve as the sponsor of the ETF, while Gemini Trust Company, an affiliate of the same group, will provide custodial services for the ZEC holdings. This arrangement mirrors the custody model used in other crypto-linked funds, ensuring that the underlying assets are stored by a regulated entity.
Potential investment and market context
Winklevoss Capital Fund, through one or more of its affiliates, has expressed interest in purchasing as much as $100 million worth of shares in the new ETF. The filing clarifies that this interest does not constitute a binding commitment. Should the fund launch, it would join Grayscale’s existing Zcash ETF, which recently announced a three-for-one share split.
Zcash has experienced a significant rally over the past twelve months, climbing more than 735 percent and reaching a market capitalization near $23 billion. At the time of reporting, the cryptocurrency was priced around $1,354, situating it among the top ten assets by market value.
Why it matters
The introduction of another regulated investment product for Zcash could broaden exposure for traditional investors who prefer brokerage accounts over direct cryptocurrency ownership. By offering a custodial structure and a modest fee, the fund may attract capital from institutions and retail participants seeking privacy-focused assets without handling private keys. Additionally, the potential $100 million infusion from Winklevoss Capital signals confidence in Zcash’s long-term viability and could encourage further development of crypto-centric ETFs on major U.S. exchanges.
