Winklevoss Files for Zcash ETF on Nasdaq

A new exchange-traded fund (ETF) backed by the Winklevoss twins has filed paperwork with the US Securities and Exchange Commission (SEC) to list on the Nasdaq Stock Market. The Winklevoss Zcash ETF aims to track the price of Zcash (ZEC), a privacy-focused cryptocurrency. The fund, which would use the ticker WINK, would be sponsored by Winklevoss Asset Services and custody services provided by Gemini Trust Company.

The proposed ETF would hold ZEC directly and charge an annual sponsor fee of 0.25%. It would not use leverage or derivatives to achieve its investment objective. Winklevoss Capital Fund has expressed interest in purchasing up to $100 million in shares, though this potential investment is not binding.

The ETF would provide investors with exposure to Zcash through a traditional brokerage account, eliminating the need to directly buy or hold the cryptocurrency. Zcash uses zero-knowledge proofs to enable shielded transactions that conceal transaction amounts and identities of senders and recipients.

This development comes as ZEC has seen a significant surge, increasing over 735% in the past year. As of Tuesday, ZEC was trading at approximately $1,354, making it the 10th-largest cryptocurrency by market value. The Winklevoss ETF would join Grayscale’s existing Zcash ETF (ZCSH), which is already trading in the US and recently announced a 3-for-1 share split.