ZEC Gets a WINK as Winklevoss Files for Nasdaq ETF
Winklevoss Asset Services filed an S-1 registration assertion with the SEC on Oct. 6, 2026, for a proposed spot Zcash ETF that might maintain ZEC instantly and listing on Nasdaq underneath the ticker WINK.
The submitting is preliminary: the prospectus says its data could change and shares can’t be offered till the registration assertion turns into efficient.
The proposed fund would cost a 0.25% annual sponsor charge, use Gemini Trust Company as custodian, and keep away from leverage and derivatives. Winklevoss Capital Fund associates have indicated curiosity in shopping for as much as $100M in shares, however that curiosity is expressly nonbinding.
This information dropped as ZEC is buying and selling at $1,315, down practically 3% over the previous 24 hours. Daily buying and selling quantity sits at $679M, and Zcash remains to be up +11% over the previous 30 days, with traders hoping this WINK ETF information may spark a recent rally.
WINK Zcash ETF Would Add a Brokerage Route to Direct ZEC Exposure
The proposed belief’s goal is to offer publicity to the worth of the ZEC it holds, much less working bills and different liabilities. Its construction would let traders receive Zcash publicity by means of a conventional brokerage account with out buying or custody of the cryptocurrency themselves.
That entry route doesn’t change the underlying asset publicity. The fund would personal ZEC instantly, and the submitting says it could not use derivatives or leverage to pursue its goal.
Shareholders would nonetheless face ZEC’s value volatility, whereas shares purchased or offered on the alternate may commerce at a premium or low cost to the belief’s web asset worth.
Winklevoss Asset Services would sponsor the belief, with its affiliate Gemini Trust Company holding the ZEC. The proposed 0.25% annual sponsor charge is a central time period of the provide, however it doesn’t assure that WINK will entice property or compete efficiently with an present product.
The submitting says Winklevoss Capital Fund, by means of a number of associates, has indicated curiosity in buying as much as $100 million of shares, both from approved contributors or available in the market. That is just not dedicated seed capital or a binding order: the associates may in the end purchase extra, much less, or not one of the said quantity.
The proposal enters a US market the place Grayscale’s Zcash ETF, ZCSH, is already buying and selling. The major report stated Grayscale had not too long ago introduced a 3-for-1 share break up.
It additionally reported that ZEC had gained greater than 735% over the prior yr and traded at roughly $1,354 on Tuesday, Oct. 6, with a market capitalization of about $23Bn. Those figures describe the market at that time, not a present quote.
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Custody and the Zcash Structure Define the Product
Zcash makes use of zero-knowledge proofs to assist shielded transactions that may conceal transaction quantities and the identities of senders and recipients. WINK would give brokerage traders publicity to ZEC with out requiring them to work together instantly with these community options or handle the asset’s custody themselves.
Under the prospectus, Gemini Trust Company would maintain all ZEC on the belief’s behalf, whereas CSC Delaware Trust Company would act as trustee.
The submitting additionally establishes a relationship with Cypherpunk Technologies as a Zcash Ecosystem Partner, with doable providers together with coinholder polling and steerage on protocol and technical developments.
Institutional crypto merchandise rely on custody preparations and asset publicity; institutional key custody is subsequently a part of the product’s construction, not a aspect element. Several operational particulars stay open within the preliminary doc.
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