TLDR
- Winklevoss Asset Services submitted an S-1 registration with the SEC for a spot Zcash exchange-traded fund.
- The proposed ETF targets a Nasdaq listing with the ticker symbol WINK and names Gemini Trust as the digital asset custodian.
- Affiliated entities under Winklevoss Capital have expressed non-binding interest in purchasing up to $100 million in fund shares.
- ZEC has climbed more than 735% year-over-year and currently trades around $1,376.
- Market participants are monitoring the upcoming NU7 mainnet upgrade vote scheduled for October 20.
Winklevoss Asset Services has submitted regulatory paperwork to the U.S. Securities and Exchange Commission seeking approval for a new exchange-traded fund focused on Zcash. The investment vehicle would maintain direct holdings of ZEC tokens and pursue a listing on the Nasdaq Stock Market.
If cleared by regulators, the ETF would operate under the ticker symbol WINK. The fund structure would allow traditional investors to access Zcash exposure without directly purchasing or storing the cryptocurrency.
According to the filing, Gemini Trust Company—an entity affiliated with the Winklevoss brothers—would handle custody responsibilities for the fund’s ZEC token holdings. Winklevoss Asset Services would manage the ETF as its official sponsor.
The planned annual management fee stands at 0.25%. Documentation specifies that the fund will avoid using leveraged positions or derivative instruments to replicate ZEC price movements.
Winklevoss Capital Fund has signaled potential interest in acquiring shares worth as much as $100 million following the ETF’s launch. However, the filing clarifies this expression of interest carries no binding commitment.
The investment product would operate through a cash-based creation and redemption mechanism. Authorized participants would provide cash to generate new fund shares, after which Winklevoss Asset Services would execute ZEC purchases on the market.
This framework allows institutional participants to interact with the fund using U.S. dollars instead of handling ZEC token transfers directly. The registration document also identifies Cypherpunk Technologies as a service provider for Zcash network-related operations.
The proposed ETF requires SEC approval before launching. Regulators have not announced a timeline for their review decision.
Grayscale Already Operates a Zcash ETF
The Winklevoss offering would become the second Zcash-focused ETF in the U.S. market, following Grayscale’s existing fund that trades under ZCSH. Grayscale recently executed a 3-for-1 share split for its Zcash product.
Zcash operates as a privacy-oriented digital currency. The protocol employs zero-knowledge cryptographic proofs, enabling users to conceal transaction amounts and participant identities on the blockchain.
ZEC Price Climbs Before Network Upgrade Decision
ZEC has posted gains exceeding 735% during the past twelve months. The cryptocurrency’s market capitalization currently stands around $23 billion, positioning it as the 10th largest digital asset by this metric.
On Tuesday, ZEC changed hands near $1,376, posting a gain of more than 5% from the previous 24-hour period. The broader cryptocurrency market advanced approximately 1% during the same window.
Price action saw the token climb from the $1,290-$1,300 level toward $1,350. A brief retreat brought ZEC back to $1,320 before renewed buying interest drove the price to $1,380.
Multiple attempts to breach resistance in the $1,375-$1,380 zone have been rejected. Support levels are established at $1,355-$1,360, with an additional demand zone positioned near $1,340-$1,345.
Market analyst Ardi, posting under the handle @ArdiNSC, noted that ZEC has violated a daily swing low for the first time since the asset traded in the $400 range. He observed that the ZEC/BTC trading pair has also broken below support levels across multiple chart timeframes.
According to Ardi’s assessment, a bitcoin rally could propel ZEC back into its previous distribution range between $1,420 and $1,500. He suggested that scenario might produce a lower high formation before another decline toward the $1,100-$1,200 zone.
Alternatively, Ardi indicated that if bitcoin breaks down from its current range without an upside breakout, ZEC could drop directly toward that lower target without an intermediate bounce.
Participants in Zcash markets are also focused on the NU7 protocol upgrade. A governance decision regarding NU7 mainnet deployment is set to occur on October 20.
The post Winklevoss Brothers Launch SEC Filing for Zcash (ZEC) ETF Under WINK Ticker appeared first on Blockonomi.
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This articles is written by : Nermeen Nabil Khear Abdelmalak
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