Winklevoss Capital Files Zcash ETF Registration to Challenge Grayscale’s ZCSH
Winklevoss Capital has formally filed a registration statement with the U.S. Securities and Exchange Commission to list a spot Zcash ETF on Nasdaq, setting up a potential challenge to Grayscale’s existing ZCSH product on the New York Stock Exchange.
Winklevoss Capital Files for Zcash ETF
According to BSCN, the proposed exchange-traded fund would trade on Nasdaq under the ticker symbol WINK. The filing represents a move by Winklevoss Capital to establish regulated market exposure to Zcash, the privacy-focused cryptocurrency identified by the ticker ZEC.
The registration statement specifies that the fund would hold spot ZEC through segregated custodial storage. This structure would give the proposed ETF direct exposure to the underlying cryptocurrency rather than relying on a derivative-based position.
ETF Would Use Exchange Order Flow for Valuation
The filing also outlines how the proposed fund would determine its net asset value. According to the registration statement, the ETF would apply a time-weighted average price formula based on executed order flow from leading digital asset exchanges.
The valuation methodology is part of the structure described in the filing and would be used to determine the fund’s net asset value based on trading activity across top digital asset exchanges.
Potential Challenge to Grayscale’s ZCSH
BSCN said the filing is expected to create a direct institutional contest for regulated exposure to Zcash on Wall Street. The proposed WINK ETF would enter a market that already includes Grayscale’s ZCSH product, which trades on the New York Stock Exchange.
The comparison places the proposed Nasdaq-listed fund and Grayscale’s existing ZCSH product in direct focus as investors consider regulated vehicles offering exposure to ZEC. The filing does not establish that the proposed ETF will be listed or begin trading, but it formally starts the registration process with the U.S. Securities and Exchange Commission.
For now, the key development is Winklevoss Capital’s registration filing for a Nasdaq-listed Zcash ETF under the WINK ticker, with the proposed fund designed to hold spot ZEC in segregated custodial storage and value its assets using a time-weighted average price formula based on executed order flow from top digital asset exchanges.
Writer: Ethan Collins
Crypto Journalist
Ethan Collins reports on developments across the cryptocurrency and blockchain sector. His work covers market movements, protocol updates, regulatory changes, and emerging trends in digital assets.
He focuses on presenting complex topics in a clear and accessible manner for a broad readership.
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