Winklevoss Files for Spot Zcash ETF With 0.25% Fee

Winklevoss has filed with the SEC for a spot Zcash ETF that would hold ZEC directly and seek a Nasdaq listing under the ticker WINK. The proposed fund would charge a 0.25% annual sponsor fee, compared with the 2.5% management fee charged by Grayscale’s Zcash ETF (ZCSH). Winklevoss Capital Fund, through affiliates, has indicated interest in buying up to $100 million of shares, although the indication is nonbinding and could result in no purchases. Winklevoss Asset Services would sponsor the fund, with affiliate Gemini Trust Company serving as custodian and holding ZEC primarily in segregated cold storage. The filing follows ZCSH’s August 25 listing on NYSE Arca and the September 29 debut of Valour’s Zcash certificate in Sweden. WINK’s prospectus remains preliminary, and shares cannot be sold until the registration statement becomes effective.