Winklevoss Twins Propose Spot Zcash ETF Amid Privacy Coin Resurgence
- Cameron and Tyler Winklevoss filed an S-1 with the SEC for a spot Zcash ETF to trade on Nasdaq under ticker “WINK.”
- Winklevoss Capital Fund expressed non-binding interest in purchasing up to $100 million of shares.
- The twins’ exchange, Gemini, will act as custodian, storing ZEC in cold storage.
- Cypherpunk Technologies, backed by the Winklevoss twins, will advise as “Zcash Ecosystem Partner.”
- The filing follows a resurgence in Zcash interest, including Grayscale’s ETF and European ETP by 21Shares.
Cameron and Tyler Winklevoss are betting on privacy coins with their proposed spot Zcash ETF, which would provide exposure to ZEC through traditional brokerage accounts. The filing indicates a growing interest in privacy coins amid recent developments like Grayscale’s ETF and other European offerings.
The SEC must approve the filing before trading can commence, highlighting both the potential gains and risks associated with volatile assets like Zcash that have seen significant price surges recently.
