A Winklevoss-backed exchange-traded fund seeking to track the price of Zcash has filed a registration statement with the US Securities and Exchange Commission.
According to the filing, the proposed Winklevoss Zcash ETF would hold ZEC directly and seek a listing on the Nasdaq Stock Market under the ticker symbol WINK. Winklevoss Asset Services would sponsor the fund, and its affiliate, Gemini Trust Company, would act as the custodian for the ETF's ZEC holdings. The fund plans to charge an annual sponsor fee of 0.25% and will not utilize leverage or derivatives to pursue its investment objective.
Additionally, the filing notes that Winklevoss Capital Fund, through one or more affiliates, has indicated a non-binding interest in purchasing up to $100 million in shares of the proposed ETF.
The product would provide investors with exposure to Zcash through a traditional brokerage account, eliminating the need to directly hold the privacy-focused cryptocurrency. Zcash utilizes zero-knowledge proofs to allow shielded transactions that can conceal senders, recipients, and transaction amounts.
If approved, the fund would join Grayscale's Zcash ETF, known by the ticker ZCSH, which is already trading in the United States and recently underwent a 3-for-1 share split. CoinGecko data shows that ZEC trades around $1,354, placing its market capitalization at approximately $23 billion and making it the 10th-largest cryptocurrency by market value.
