Winklevoss Files Spot Zcash ETF With the SEC Winklevoss Capital has formally filed a registration statement with the U.S. Securities and Exchange Commission to list a spot Zcash exchange-trad
Winklevoss Capital has formally filed a registration statement with the U.S. Securities and Exchange Commission to list a spot Zcash exchange-traded fund on Nasdaq. The S-1 was filed on October 6, 2026, under the name Winklevoss Zcash ETF.If approved, the fund would trade on Nasdaq under the ticker $WINK.
The structure is straightforward. The fund is designed as a spot product, meaning it would own actual $ZEC, the native token of the Zcash network, rather than futures contracts or derivatives. Net asset value would be determined by applying a time-weighted average price formula based on executed order flow from top digital asset exchanges. Custody would go to Gemini Trust Company, LLC, the twins' own crypto firm.
The filing puts Winklevoss in direct competition with @Grayscale, which already holds a significant head start in the space. The Grayscale Zcash ETF, ticker $ZCSH, began trading on NYSE Arca on August 25, 2026, becoming the first exchange-traded product in the world to offer spot exposure to $ZEC.The fund pulled in more than $500 million in assets under management within roughly two weeks of launch.
Grayscale charges a 2.5% management fee on $ZCSH. The Winklevoss filing does not yet specify a competing fee. That gap will be one to watch as the SEC reviews the application, since fee competition has historically been a key battleground in ETF markets.
The broader regulatory backdrop has also shifted in favor of privacy-coin products. In January 2026, the SEC concluded a review of Zcash-related matters without taking enforcement action, removing a significant overhang and opening the door for regulated products like $ZCSH.
Should the Winklevoss application receive approval, Wall Street would have two competing spot $ZEC products listed on major U.S. exchanges, giving institutional investors a choice of venue and fund structure for regulated exposure to the privacy-focused digital asset.
Sources:Winklevoss Zcash ETF Form S-1, U.S. Securities and Exchange CommissionWinklevoss files for spot Zcash ETF with US SEC, Crypto BriefingThe Zcash ETF (ZCSH) Begins Trading on NYSE Arca, GlobeNewswire
