Winklevoss-Backed Zcash Spot ETF Files Registration Statement With SEC

A spot Zcash exchange-traded fund backed by the Winklevoss twins has filed a registration statement with the U.S. Securities and Exchange Commission, beginning the listing process.

Cointelegraph reported on Oct. 6 that the Winklevoss Zcash ETF would hold ZEC directly to track its price and aims to list on Nasdaq under the ticker WINK.

According to the filing, Winklevoss Asset Services will serve as the ETF's sponsor, while affiliate Gemini Trust Company will custody the fund's ZEC holdings. The annual sponsor fee is 0.25%, and the fund will not use leverage or derivatives to achieve its investment objective.

Winklevoss Capital Fund has expressed interest in purchasing up to $100 million of the ETF's shares through one or more affiliates. The filing states that the indication of interest is non-binding.

If launched, the ETF would allow investors to gain exposure to Zcash through traditional brokerage accounts without having to buy or store ZEC directly. Zcash is a privacy-focused cryptocurrency that uses zero-knowledge proof technology to support shielded transactions, which can hide transaction amounts as well as sender and recipient information.

Grayscale's Zcash ETF, ZCSH, is already trading in the U.S. Grayscale recently announced a 3-for-1 share split for the product.

ZEC has surged more than 735% over the past year, lifting its market capitalization to about $23 billion. According to CoinGecko, ZEC traded at about $1,354 on Oct. 6 and ranked as the 10th-largest cryptocurrency by market value.