Winklevoss Asset Services, led by Cameron and Tyler Winklevoss, has filed with the U.S. Securities and Exchange Commission to launch a spot Zcash exchange-traded fund on Nasdaq. The proposed WINK ETF would hold actual ZEC tokens instead of futures contracts or other crypto derivatives.
ETF expert Nate Geraci confirmed the Form S-1 registration statement filing on Oct. 6, 2026. The fund would operate on a cash creation and redemption model, where authorized participants provide dollars that the fund uses to acquire ZEC.
The Zcash native token ZEC rallied more than five percent following news of the filing, trading around $1,357.
The filing marks the latest crypto fund effort by the Winklevoss twins, more than 13 years after their initial proposal for a spot Bitcoin ETF in July 2013.
The twins hold significant ZEC stakes through their publicly traded digital asset treasury firm, Cypherpunk Technologies, which owns more than 290,062 ZEC—valued at roughly $152 million and representing about 1.76 percent of Zcash's circulating supply. Cypherpunk Technologies has set a goal to hold at least five percent of the total Zcash supply. Zcash founder Zooko Wilcox has joined the twins as a strategic adviser.
The WINK ETF would charge an annual fee of 0.25 percent, accrued daily in ZEC, according to the S-1 filing.
The filing follows the launch of Grayscale's Zcash ETF, which has surpassed $900 million in assets under management. The Winklevoss Zcash ETF could become the second U.S. spot ZEC fund if approved.
Zcash offers enhanced transaction privacy features that appeal to traders seeking more privacy compared with Bitcoin.
