Winklevoss-Backed Zcash ETF Filing Adds New Challenger to US Market

Proposed Winklevoss-backed Zcash ETF with ticker WINK and direct ZEC holdings

A proposed spot Zcash ETF backed by the Winklevoss group would add another competitor to the growing U.S. market for investment products holding ZEC directly, according to information shared by Coin Bureau.

The proposed fund, which would trade on Nasdaq under the ticker WINK, is designed to hold Zcash (ZEC) directly. Gemini would serve as the fund's custodian, while the proposed ETF would charge investors a 0.25% fee.

Winklevoss Group Targets Zcash ETF Market

Winklevoss Capital has also indicated an interest in purchasing up to $100 million of shares in the proposed fund. The potential investment would give the Winklevoss group a direct financial position in the ETF if the plan proceeds.

The filing would make the Winklevoss group the third issuer pursuing a spot Zcash ETF in the United States, following Grayscale and Bitwise. The development adds another participant to a market that has expanded around investment products offering exposure to ZEC without requiring investors to hold the cryptocurrency directly.

Grayscale's ZEC ETF Nears $890 Million

Grayscale is already operating a Zcash ETF, which has accumulated nearly $890 million in assets since launching in August. Its existing fund gives the issuer an established position in the U.S. Zcash ETF market ahead of the proposed Winklevoss-backed product.

Bitwise is also pursuing a spot Zcash ETF, placing it among the issuers competing for exposure to the U.S. markets for ZEC-based exchange-traded funds. The addition of the proposed WINK fund would bring the number of identified issuers pursuing the market to three.

The proposed Winklevoss fund would combine direct ZEC holdings with Gemini's custodial services and a 0.25% fee structure. The proposed ticker, WINK, would distinguish the fund if it advances to trading on Nasdaq.

With Grayscale's ZEC ETF already holding nearly $890 million in assets after its August launch and Bitwise also seeking to enter the market, the proposed WINK fund would add another contender to an increasingly competitive U.S. Zcash ETF landscape.

Writer: Victoria Hale
Technology & Blockchain Writer

Victoria Hale writes about blockchain technology, digital infrastructure, and the intersection of emerging technologies with finance. Her articles explore how new protocols and systems are shaping the evolving digital economy.

She prioritises clarity and accuracy when explaining technical developments to a general audience.