Winklevoss-backed Zcash ETF files with SEC for Nasdaq listing
Reported by Cointelegraph · AI-assisted summary by ChikoCorp AI News Desk
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Summary
A Winklevoss-backed exchange-traded fund (ETF) seeking to track the price of Zcash (ZEC) has filed a registration statement with the US Securities and Exchange Commission (SEC). The proposed ETF, sponsored by Winklevoss Asset Services and custodied by Gemini Trust Company, aims to list on Nasdaq under the ticker WINK. The fund would hold ZEC directly, charge a 0.25% annual sponsor fee, and not use leverage or derivatives.
Why it matters
This ETF would enable investors to gain exposure to Zcash through traditional brokerage accounts without directly buying or holding the cryptocurrency. The source does not provide additional explanation on the broader impact for markets or policy.
Key context
Zcash is a privacy-focused cryptocurrency that uses zero-knowledge proofs to allow shielded transactions hiding the amounts and participant identities. The Winklevoss Zcash ETF would follow Grayscale’s existing Zcash ETF (ZCSH) already trading in the US, which recently announced a 3-for-1 share split. Over the past year, ZEC’s price surged more than 735%, with its market capitalization near $23 billion.
Key numbers and entities
Entities include Winklevoss Asset Services (sponsor), Gemini Trust Company (custodian), and Winklevoss Capital Fund (potential investor). The ETF would list on Nasdaq under ticker WINK, charging a 0.25% annual fee. ZEC is currently ranked as the 10th-largest cryptocurrency by market cap with a price around $1,354.
What remains unclear
The SEC’s timeline and likelihood of approval for this ETF are not specified. The source does not detail how this ETF would compete with or differ from Grayscale’s Zcash ETF. The potential impact on Zcash adoption or regulatory considerations is not addressed.