#winklevossfilesspotzcashetfapplication
Zcash's ETF Race Just Got a Third Entrant — And the Winklevoss Twins Are Undercutting Everyone on Price
Thirteen years to the day after their first spot Bitcoin ETF attempt was rejected, the Winklevoss twins just filed for a spot Zcash ETF — this time pricing it well below what every existing competitor charges.
Here's what happened: Winklevoss Asset Services filed an S-1 registration with the SEC on October 6 for a spot Zcash ETF, seeking a Nasdaq listing under the ticker WINK. The fund would hold ZEC directly, charge a 0.25% annual fee — a tenth of the 2.5% fee charged by both Grayscale's existing ZCSH and 21Shares' European ETP — and use Gemini Trust Company, the Winklevoss-founded exchange, as custodian. Winklevoss Capital Fund has signaled nonbinding interest in purchasing up to $100 million of the ETF's shares. The filing also names Cypherpunk Technologies, which reportedly controls around 18% of Zcash's network mining power, as an ecosystem partner. This marks the third spot Zcash ETF application in the pipeline, following Grayscale's already-trading fund and Bitwise's pending filing. ZEC traded above $1,300 around the announcement.
Why does this matter? A meaningfully lower fee structure could pressure existing Zcash ETF products to compete on price, while the Gemini custody arrangement — an affiliate of the fund's own sponsor — is the kind of related-party structure regulators often scrutinize closely during review. It's another concrete signal of growing institutional interest building around privacy-focused crypto this quarter.
Does a cheaper fee alone decide which Zcash ETF wins investor interest, or does custody structure matter just as much? 🤔
#zcash #etf #Winklevoss #Gemini
$ZEC $NMR $GLMR
Zcash's ETF Race Just Got a Third Entrant — And the Winklevoss Twins Are Undercutting Everyone on Price
Thirteen years to the day after their first spot Bitcoin ETF attempt was rejected, the Winklevoss twins just filed for a spot Zcash ETF — this time pricing it well below what every existing competitor charges.
Here's what happened: Winklevoss Asset Services filed an S-1 registration with the SEC on October 6 for a spot Zcash ETF, seeking a Nasdaq listing under the ticker WINK. The fund would hold ZEC directly, charge a 0.25% annual fee — a tenth of the 2.5% fee charged by both Grayscale's existing ZCSH and 21Shares' European ETP — and use Gemini Trust Company, the Winklevoss-founded exchange, as custodian. Winklevoss Capital Fund has signaled nonbinding interest in purchasing up to $100 million of the ETF's shares. The filing also names Cypherpunk Technologies, which reportedly controls around 18% of Zcash's network mining power, as an ecosystem partner. This marks the third spot Zcash ETF application in the pipeline, following Grayscale's already-trading fund and Bitwise's pending filing. ZEC traded above $1,300 around the announcement.
Why does this matter? A meaningfully lower fee structure could pressure existing Zcash ETF products to compete on price, while the Gemini custody arrangement — an affiliate of the fund's own sponsor — is the kind of related-party structure regulators often scrutinize closely during review. It's another concrete signal of growing institutional interest building around privacy-focused crypto this quarter.
Does a cheaper fee alone decide which Zcash ETF wins investor interest, or does custody structure matter just as much? 🤔
#zcash #etf #Winklevoss #Gemini
$ZEC $NMR $GLMR
