Winklevoss Files for Zcash ETF WINK With 0.25% Fee

Nasdaq proposal comes as Grayscale’s ZCSH loses assets and sees sustained outflows

TL;DR

• Winklevoss Asset Services filed for a spot Zcash ETF that would hold ZEC directly and trade on Nasdaq as WINK.
• Gemini would custody the fund’s ZEC, while Winklevoss Capital Fund expressed non-binding interest in buying shares.
• The filing arrives as Grayscale’s Zcash ETF records falling assets and investor outflows.

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Winklevoss Asset Services filed with the Securities and Exchange Commission on Oct. 6, 2026, for a spot Zcash exchange-traded fund backed by Cameron and Tyler Winklevoss. The proposed fund would hold ZEC directly, seek to track its price and trade on Nasdaq under the ticker WINK with a 0.25% annual sponsor fee. The filing is an initial registration step rather than an approval, and trading cannot begin until the SEC declares the registration effective and Nasdaq separately clears the listing.

Zcash is a privacy-focused cryptocurrency that allows users to shield a transaction’s sender, recipient and amount using cryptography known as zk-SNARKs. Gemini Trust, the crypto custodian founded by Cameron and Tyler Winklevoss, would hold WINK’s ZEC in cold storage. The filing identifies Gemini as an affiliate of the sponsor and lists that relationship as a conflict of interest.

Winklevoss Capital Fund has indicated non-binding interest in purchasing up to $100 million of shares in the offering. Cypherpunk Technologies, a Winklevoss-backed Zcash treasury company, would serve as the trust’s “Zcash Ecosystem Partner,” advising on protocol matters and coinholder voting.