Winklevoss Files for Zcash ETF to List on Nasdaq
- The proposed Winklevoss Zcash ETF aims to hold ZEC directly and is set to trade under the ticker WINK.
- Sponsorship will be provided by Winklevoss Asset Services, with custody managed by Gemini Trust Company.
- The fund will charge an annual sponsor fee of 0.25% and will not utilize leverage or derivatives.
- Winklevoss Capital Fund has expressed interest in investing up to $100 million in shares of the ETF, though this is non-binding.
- ZEC’s market capitalization has surged over 735% in the past year, reaching approximately $23 billion.
- Zcash currently ranks as the 10th-largest cryptocurrency, trading at around $1,354.
This ETF offers investors a way to gain exposure to Zcash without directly purchasing the cryptocurrency, which employs zero-knowledge proofs for transaction privacy. The introduction of this fund complements Grayscale’s existing Zcash ETF (ZCSH), which recently underwent a share split.
With ZEC’s impressive growth of over 735%, the launch of the Winklevoss-backed ETF could further enhance investor access to this privacy-focused asset.(Source)
