Winklevoss Twins Seek SEC Approval for Spot Zcash ETF

Winklevoss Asset Services has taken a bold step into the privacy coin market by filing for a spot zcash ETF with the U.S. Securities and Exchange Commission. The proposed fund, set to trade under the ticker WINK on the Nasdaq, aims to offer direct price exposure to zcash (ZEC), challenging Grayscale’s existing zcash product. The filing, submitted on October 6, outlines a cash-creation model for share creation and redemption, distinguishing it from synthetic or derivative products.

The Winklevoss Zcash ETF marks a significant expansion of the Winklevoss twins' institutional crypto strategy beyond bitcoin and ether. Winklevoss Asset Services, led by CEO Cameron Winklevoss, will sponsor the fund, while Gemini Trust will hold all ZEC holdings in segregated cold storage. The fund has also secured an agreement with Cypherpunk Technologies to serve as its Zcash Ecosystem Partner, providing technical guidance and advisory services.

Winklevoss Capital Fund has expressed nonbinding interest in purchasing up to $100 million in shares upon the fund's launch. The offering remains subject to SEC review and market effectiveness before trading can commence. This move sets the stage for a high-stakes battle for institutional dominance in privacy coins, following Grayscale’s recent launch of its own zcash product.