Winklevoss Asset Services files for spot Zcash ETF

Winklevoss Asset Services has filed a Form S-1 registration statement with the U.S. Securities and Exchange Commission (SEC) to launch a spot Zcash (ZEC) exchange-traded fund (ETF). The proposed fund, intended to trade on the Nasdaq under the ticker symbol ‘WINK’, would directly hold ZEC to provide investors with exposure to the privacy-focused cryptocurrency without the need for direct ownership.

Gemini Trust Company, an affiliate of the Winklevoss twins, is slated to serve as the fund's custodian. The proposal includes an annual sponsor fee of 0.25%, which is significantly lower than the 2.5% fee charged by Grayscale’s existing Zcash ETF. Winklevoss Capital Fund has expressed non-binding interest in potentially purchasing up to $100 million in shares during the initial issuance.

The filing comes as Zcash has seen significant market activity, with the token's price recently surging. This move marks the latest in the Winklevoss brothers' long-standing involvement in the crypto ETF market, occurring more than 13 years after their initial attempt to launch a spot Bitcoin ETF.