Winklevoss Asset Services Files for Spot Zcash ETF
Winklevoss Asset Services has filed a Form S-1 with the SEC to launch a spot Zcash ETF, aiming to compete with the existing Grayscale product.
Tyler and Cameron Winklevoss have entered the race for Zcash exchange-traded products. Their firm, Winklevoss Asset Services, LLC, submitted a Form S-1 registration statement to the US Securities and Exchange Commission on October 6, 2026.
The proposed Winklevoss Zcash ETF is designed to hold ZEC directly rather than utilizing futures or other derivatives. If the SEC grants approval, the fund is expected to list on Nasdaq under the ticker WINK.
The filing outlines a cash-create and cash-redeem model, where authorized participants provide dollars to the fund, which then manages the acquisition of the underlying ZEC. Gemini Trust Company, LLC is slated to serve as the custodian for the assets, while the firm has also established a partnership with Cypherpunk Technologies for network-related services.
This filing follows the August 25, 2026, launch of the first US spot Zcash ETF, Grayscale’s ZCSH, which trades on NYSE Arca. Grayscale’s fund reached over $500 million in assets under management in approximately two weeks and currently carries a 2.5% management fee. The Winklevoss filing does not yet disclose a fee structure.
The regulatory environment for such products shifted in January 2026, when the SEC concluded a review of Zcash-related matters without taking enforcement action. This development cleared the way for the subsequent launch of spot Zcash products.
While the filing marks the beginning of the process, the use of an affiliated company as custodian may invite regulatory scrutiny regarding potential conflicts of interest. Gemini has provided trading and custody support for ZEC since 2018.
