Winklevoss Files for Nasdaq Zcash ETF Under Ticker WINK

Winklevoss Asset Services filed an S-1 registration statement with the U.S. Securities and Exchange Commission (SEC) on Oct. 6, 2026, for a proposed spot Zcash (ZEC) ETF. The fund would hold ZEC directly and list on Nasdaq under the ticker symbol WINK.

The filing is preliminary: the prospectus notes that its information may change and that shares cannot be sold until the registration statement becomes effective.

Winklevoss Just Filed for a Zcash ETF to challenge Grayscale…
Winklevoss Capital formally filed a registration statement with the U.S. Securities and Exchange Commission to list a ZCASH ETF on Nasdaq under the ticker symbol $WINK.
The registration statement notes that the… pic.twitter.com/nmSUJWVDPq

— BSCN (@BSCNews) October 6, 2026

The proposed fund would charge a 0.25% annual sponsor fee, use Gemini Trust Company as custodian, and avoid leverage and derivatives. Winklevoss Capital Fund affiliates have indicated interest in buying up to $100 million in shares, but that interest is expressly nonbinding.

This news emerged as ZEC was trading at $1,315, down nearly 3% over the past 24 hours. Daily trading volume stood at $679 million, and Zcash remained up 11% over the past 30 days, with investors hoping this WINK ETF news could spark a fresh rally.

WINK Zcash ETF Would Add a Brokerage Route to Direct ZEC Exposure

Zcash (ZEC) 24h 7d 30d 1y All time

The proposed trust’s objective is to provide exposure to the price of the ZEC it holds, less operating expenses and other liabilities. Its structure would allow investors to obtain Zcash exposure through a traditional brokerage account without purchasing or managing the custody of the cryptocurrency themselves.

This access route does not change the underlying asset exposure. The fund would own ZEC directly, and the filing states it would not use derivatives or leverage to pursue its objective.

Shareholders would still face ZEC’s price volatility, while shares bought or sold on the exchange could trade at a premium or discount to the trust’s net asset value.

Winklevoss Asset Services would sponsor the trust, with its affiliate Gemini Trust Company holding the ZEC. The proposed 0.25% annual sponsor fee is a central term of the offer, but it does not guarantee that WINK will attract assets or compete successfully with existing products.

The filing states that Winklevoss Capital Fund, through one or more affiliates, has indicated interest in purchasing up to $100 million of shares, either from authorized participants or in the market. This is not committed seed capital or a binding order: the affiliates could ultimately buy more, less, or none of the stated amount.

The proposal enters a U.S. market where Grayscale’s Zcash ETF, ZCSH, is already trading. The primary report noted that Grayscale had recently announced a 3-for-1 share split.

It also reported that ZEC had gained more than 735% over the prior year and traded at roughly $1,354 on Tuesday, Oct. 6, with a market capitalization of about $23 billion. Those figures describe the market at that point, not a current quote.

Custody and the Zcash Structure Define the Product

Zcash uses zero-knowledge proofs to support shielded transactions that can conceal transaction amounts and the identities of senders and recipients. WINK would give brokerage investors exposure to ZEC without requiring them to interact directly with those network features or manage the asset’s custody themselves.

Under the prospectus, Gemini Trust Company would hold all ZEC on the trust’s behalf, while CSC Delaware Trust Company would act as trustee.

The filing also establishes a relationship with Cypherpunk Technologies as a Zcash Ecosystem Partner, with possible services including coinholder polling and guidance on protocol and technical developments.

Institutional crypto products depend on custody arrangements and asset exposure; institutional key custody is therefore part of the product’s structure, not a side detail. Several operational details remain open in the preliminary document.

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