Winklevoss Files for Spot Zcash ETF with $100M Indication of Interest
Winklevoss Asset Services has filed a preliminary S-1 with the US Securities and Exchange Commission for a spot Zcash (ZEC) exchange-traded fund (ETF). The proposed fund, which would trade on Nasdaq under the ticker WINK, has already garnered interest from Winklevoss Capital Fund, which has indicated it may invest up to $100 million in the offering.
The ETF would charge a 0.25% annual sponsor fee, significantly lower than the 2.5% fee on Grayscale's Zcash ETF, which began trading in August. The filing specifies that the fund would hold ZEC in 'segregated cold storage' addresses, with Gemini Trust Company serving as custodian. Cameron Winklevoss is listed as the registrant's contact.
The filing also highlights Zcash's privacy features, noting that the cryptocurrency uses zk-SNARKs to shield transaction details. However, several key details, such as the fund's authorized participants and marketing agent, remain undisclosed in the preliminary document.
This latest filing adds to the growing list of exchange-traded Zcash products, following 21Shares' listing of Zcash and ETHFI products on Euronext Paris and Amsterdam in September. At the time of writing, ZEC was trading at approximately $1,370, up about 5.5% over 24 hours, making it the 10th-largest cryptocurrency by market capitalization at about $23.2 billion.