A Privacy Coin Just Surged 735% — And the Winklevoss Twins Want In
13 years after filing the first-ever spot Bitcoin ETF attempt, the Winklevoss twins just did it again — this time for a coin built specifically to hide transaction details.
Winklevoss Asset Services filed an S-1 with the SEC for a spot Zcash ETF, targeting a Nasdaq listing under the ticker WINK. $ZEC is up over 735% in the past year, trading above $1,376 after gaining more than 5% in 24 hours following the filing news.
Here's what makes this genuinely unusual: privacy coins have historically faced the toughest regulatory scrutiny in crypto, often delisted from major exchanges over compliance concerns. A spot ETF filing for one, from the same twins who pioneered Bitcoin's ETF path, signals privacy-focused crypto might be gaining real institutional legitimacy.
The fund would hold ZEC directly, charge a 0.25% annual fee, use cash-only creation and redemption, and skip leverage or derivatives entirely. Winklevoss Capital has even signaled interest in buying up to $100 million of shares themselves, though that's not a binding commitment.
Worth noting the competition already here: Grayscale's existing Zcash ETF recorded $93.56 million in withdrawals the same week — some investors may be rotating out of the older fund expecting the new one to arrive.
Timing matters too: ZEC faces its NU7 network upgrade decision on October 20, adding a second catalyst stacked right behind this ETF filing.
Does institutional demand for a privacy coin ETF signal a shift in how regulators view financial privacy, or is this mostly riding ZEC's recent price momentum? 👇
#Zcash #ZEC #CryptoNews #zyverra #SEC
13 years after filing the first-ever spot Bitcoin ETF attempt, the Winklevoss twins just did it again — this time for a coin built specifically to hide transaction details.
Winklevoss Asset Services filed an S-1 with the SEC for a spot Zcash ETF, targeting a Nasdaq listing under the ticker WINK. $ZEC is up over 735% in the past year, trading above $1,376 after gaining more than 5% in 24 hours following the filing news.
Here's what makes this genuinely unusual: privacy coins have historically faced the toughest regulatory scrutiny in crypto, often delisted from major exchanges over compliance concerns. A spot ETF filing for one, from the same twins who pioneered Bitcoin's ETF path, signals privacy-focused crypto might be gaining real institutional legitimacy.
The fund would hold ZEC directly, charge a 0.25% annual fee, use cash-only creation and redemption, and skip leverage or derivatives entirely. Winklevoss Capital has even signaled interest in buying up to $100 million of shares themselves, though that's not a binding commitment.
Worth noting the competition already here: Grayscale's existing Zcash ETF recorded $93.56 million in withdrawals the same week — some investors may be rotating out of the older fund expecting the new one to arrive.
Timing matters too: ZEC faces its NU7 network upgrade decision on October 20, adding a second catalyst stacked right behind this ETF filing.
Does institutional demand for a privacy coin ETF signal a shift in how regulators view financial privacy, or is this mostly riding ZEC's recent price momentum? 👇
#Zcash #ZEC #CryptoNews #zyverra #SEC