Winklevoss Files for Spot Zcash ETF After Grayscles Launch

Winklevoss Asset Services, led by CEO Cameron Winklevoss, has filed a registration statement with the SEC for a spot Zcash exchange-traded fund (ETF). The Winklevoss Zcash ETF, which would trade under the ticker WINK on Nasdaq, aims to become the second U.S. fund offering direct exposure to Zcash (ZEC). The proposed fund would charge an annual fee of 0.25%, with Gemini Trust Company handling the secure storage of the fund's coins.

The filing also highlights Cypherpunk Technologies as the ETF's Zcash Ecosystem Partner. This Nasdaq-listed company, which holds ZEC in its treasury, may assist with coinholder polling, voting, and advising on technical changes to the network. Winklevoss Capital, the investment firm co-founded by Cameron and Tyler Winklevoss, led a significant private placement in Cypherpunk last year.

The preliminary prospectus leaves some details unspecified, including the pricing benchmark, administrator, and seed investor. However, Winklevoss Capital has indicated interest in purchasing up to $100 million of WINK shares, though these indications are not binding.

If approved, the Winklevoss Zcash ETF would follow Grayscale's Zcash ETF (ZCSH), which began trading on NYSE Arca on August 25, 2026. Grayscale's fund quickly accumulated over $500 million in assets, with $100 million coming from a subsidiary of its parent company, Digital Currency Group. The Winklevoss filing also addresses the Orchard bug identified in May 2026, which was patched in early June, though the risk disclosure notes the uncertainty over whether the vulnerability was exploited.