Winklevoss Files for Zcash ETF on Nasdaq

A new exchange-traded fund (ETF) backed by the Winklevoss twins has filed a registration statement with the US Securities and Exchange Commission (SEC) for a Nasdaq listing. The Winklevoss Zcash ETF aims to track the price of Zcash ($ZEC) and would list under the ticker WINK. Winklevoss Asset Services is sponsoring the fund, while Gemini Trust Company will handle custody of the Zcash holdings. The ETF will charge an annual sponsor fee of 0.25% and will not use leverage or derivatives.

The proposed fund would allow investors to gain exposure to Zcash through traditional brokerage accounts without directly holding the privacy-focused cryptocurrency. Zcash uses zero-knowledge proofs to enable shielded transactions that conceal transaction amounts and the identities of senders and recipients. Winklevoss Capital Fund has expressed interest in purchasing up to $100 million in shares, though this potential investment is not binding.

The Winklevoss Zcash ETF would join Grayscale’s existing Zcash ETF (ZCSH), which is already trading in the US. Grayscale recently announced a 3-for-1 share split for its fund. Meanwhile, Zcash’s price has surged over 735% in the past year, pushing its market capitalization to about $23 billion. As of Tuesday, Zcash was trading at roughly $1,354, ranking as the 10th-largest cryptocurrency by market value.