Winklevoss Files Zcash ETF for Nasdaq Listing

The Winklevoss brothers, known for their involvement in the crypto space, have taken another step forward with the filing of a new exchange-traded fund (ETF). The proposed Winklevoss Zcash ETF aims to track the price of Zcash (ZEC) and has submitted a registration statement with the US Securities and Exchange Commission (SEC). If approved, the ETF would list on the Nasdaq Stock Market under the ticker WINK.

The fund, sponsored by Winklevoss Asset Services, would hold ZEC directly, with custody provided by its affiliate, Gemini Trust Company. The ETF would charge an annual sponsor fee of 0.25% and would not use leverage or derivatives to achieve its investment objective. Notably, Winklevoss Capital Fund has expressed interest in purchasing up to $100 million in shares of the proposed ETF, though this potential investment is not binding.

The Winklevoss Zcash ETF would offer investors a way to gain exposure to Zcash through traditional brokerage accounts, eliminating the need to directly buy or hold the privacy-focused cryptocurrency. Zcash uses zero-knowledge proofs to enable shielded transactions, concealing transaction amounts and the identities of senders and recipients. This ETF would join the existing Grayscale’s Zcash ETF (ZCSH), which is already trading in the US.

ZEC has experienced a significant surge, increasing by over 735% in the past year, pushing its market capitalization to approximately $23 billion. As of Tuesday, ZEC was trading at roughly $1,354, ranking as the 10th-largest cryptocurrency by market value.