The Winklevoss brothers (crypto exchange Gemini) have filed an application with the SEC to launch a spot ETF for ZEC.
The Form S-1 registration statement was submitted to the Commission on October 6. The fund has been given the modest name Winklevoss Zcash ETF, and the applicant is Winklevoss Asset Services, LLC, which, as you might guess, is affiliated with founders Cameron and Tyler Winklevoss.
Of course, filing an S-1 is only the first step. But if the fund is approved, investors will be able to gain exposure to #ZEC through regular brokerage accounts without having to custody the coins themselves. This could potentially broaden institutional and traditional investors’ access to Zcash, BUT the actual impact will depend on demand for the ETF, its terms, and the SEC’s final decision.
But here and now, in the moment, this filing and the news around it are more likely to help “smart money” distribute at the highs. They need something to lure the crowd into buying when the asset may be gearing up for a correction lasting weeks or months. Our indicator is showing a Strong signal of a potential high on the weekly and 3-month (!) timeframes. We previously published detailed analyses of #ZEC on September 19 and October 2.
The Form S-1 registration statement was submitted to the Commission on October 6. The fund has been given the modest name Winklevoss Zcash ETF, and the applicant is Winklevoss Asset Services, LLC, which, as you might guess, is affiliated with founders Cameron and Tyler Winklevoss.
Of course, filing an S-1 is only the first step. But if the fund is approved, investors will be able to gain exposure to #ZEC through regular brokerage accounts without having to custody the coins themselves. This could potentially broaden institutional and traditional investors’ access to Zcash, BUT the actual impact will depend on demand for the ETF, its terms, and the SEC’s final decision.
But here and now, in the moment, this filing and the news around it are more likely to help “smart money” distribute at the highs. They need something to lure the crowd into buying when the asset may be gearing up for a correction lasting weeks or months. Our indicator is showing a Strong signal of a potential high on the weekly and 3-month (!) timeframes. We previously published detailed analyses of #ZEC on September 19 and October 2.
