Winklevoss Twins File for Spot Zcash ETF After 13 Years
The Winklevoss twins have taken another step in their long history with cryptocurrency ETFs by filing for a spot Zcash ETF, 13 years after their initial Bitcoin ETF bid. The new product, called the Winklevoss Zcash ETF, was registered via Form S-1 submitted to the U.S. Securities and Exchange Commission. The ETF aims to provide investors with direct exposure to Zcash (ZEC), a privacy-focused cryptocurrency.
The ETF is designed as a passive investment instrument, with the sole objective of tracking Zcash's price movements. If approved, it will be listed on the Nasdaq and trade under the ticker WINK. The ZEC held by the ETF will be securely stored by Gemini Trust Company, a cryptocurrency custodian co-founded by the Winklevoss twins. Gemini is regulated by the New York State Department of Financial Services.
The filing comes just days after Tyler Winklevoss publicly expressed enthusiasm for Zcash, comparing the current resurgence of interest in the cryptocurrency to the excitement seen in 2019. Notably, Winklevoss Capital Fund has indicated a non-binding interest in purchasing up to $100 million worth of shares in the new ETF.
The Winklevoss twins first filed for a spot Bitcoin ETF on July 1, 2013, making them pioneers in the cryptocurrency ETF space. This new Zcash ETF filing marks another significant milestone in their ongoing efforts to bring cryptocurrency investments to mainstream investors.