Winklevoss Files for Nasdaq Spot Zcash ETF as ZEC Price Surges

Winklevoss Asset Services has filed for a Nasdaq-listed spot Zcash ETF, proposed under the ticker WINK. The filing, submitted on Oct. 6, outlines a fund that would hold ZEC directly, with Gemini Trust Company serving as the custodian. The ETF would use a cash-based creation and redemption process, allowing authorized participants to transact in dollars without directly handling Zcash tokens.

The move comes amid a surge in ZEC's price, which climbed above $1,376 after a 5% gain in 24 hours. The filing also names Cypherpunk Technologies as a partner for Zcash network services, following a $33.33 million mining deal announced earlier. The proposal remains subject to regulatory approval, with no confirmed launch date.

Meanwhile, Grayscale's existing Zcash ETF (ZCSH) recorded $93.56 million in withdrawals during the week ended Oct. 2, marking its first negative week since late August. The fund's assets now stand at approximately $751 million, with cumulative net inflows of about $212.56 million. The price of ZEC has fluctuated, closing at $1,653.12 on Sep. 26 and $1,304.32 on Oct. 3.

Developers have scheduled an Oct. 20 decision on the NU7 upgrade, proposed for a November mainnet activation. The upgrade aims to reduce target block spacing from 75 seconds to 25 seconds while preserving daily ZEC issuance.