Winklevoss seeks Nasdaq listing for Zcash ETF under WINK ticker

Winklevoss Asset Services has filed a preliminary S-1 registration statement with the US Securities and Exchange Commission for a spot Zcash exchange-traded fund, according to a filing submitted Tuesday.

The proposed Winklevoss Zcash ETF would hold ZEC directly, use Gemini Trust Company as custodian and charge a 0.25% annual sponsor fee. The fund is expected to list on Nasdaq under the ticker WINK.

Winklevoss Asset Services, a newly formed entity, would sponsor the fund. The trust has also entered into an agreement with Cypherpunk Technologies to serve as its “Zcash Ecosystem Partner,” assisting with areas including protocol developments and coinholder polling.

The filing marks the latest push to bring Zcash exposure to US public markets. Grayscale launched the first US spot Zcash ETF, ZCSH, in August, attracting more than $233 million in inflows and reaching nearly $890 million in net assets within its first month. 

Bitwise has also filed for a Zcash ETF, making Winklevoss the third issuer pursuing such a product.

The Winklevoss filing would also undercut Grayscale on fees. The proposed fund carries a 0.25% sponsor fee, compared with the 2.5% fee charged by Grayscale’s ZCSH.

Winklevoss Capital Fund has indicated nonbinding interest in purchasing up to $100 million of shares in the proposed ETF through affiliates, either from authorized participants or in the market. The filing notes that the firm could ultimately buy more, less or none of that amount.

The proposal extends the Winklevoss brothers’ longstanding involvement with Zcash. Gemini was the first licensed exchange to support ZEC trading and custody, while Winklevoss-backed Cypherpunk has built a sizable ZEC treasury and mining operation.

The filing comes roughly 13 years after Cameron and Tyler Winklevoss submitted one of the earliest applications for a US spot bitcoin ETF, which the SEC later rejected in 2017 over concerns about market manipulation.

ZEC was trading around $1,350 at the time of publication, up roughly 2% over the past 24 hours, but remains about 20% below its all-time high of nearly $1,700 reached in late September.