Winklevoss Asset Services has filed with the SEC to launch a spot Zcash ETF under the proposed ticker WINK, becoming the third issuer chasing the market after Grayscale and Bitwise. The filing lands as Zcash and Monero outrun the rest of the crypto market while Bitcoin and Ethereum stay flat.
Winklevoss Asset Services has filed a preliminary S-1 registration statement with the U.S. Securities and Exchange Commission, proposing a spot Zcash (ZEC) ETF that would list on Nasdaq under the ticker WINK. The fund would hold ZEC directly, use Gemini Trust Company as custodian, and charge a 0.25% annual sponsor fee.
Winklevoss Capital Fund has indicated nonbinding interest in buying up to $100 million of shares in the proposed fund, making Winklevoss Asset Services the third issuer to pursue a U.S. spot Zcash ETF, after Grayscale and Bitwise.
A long Zcash history behind the filing
The filing builds on years of Winklevoss involvement with Zcash. Winklevoss-backed Cypherpunk Technologies previously bought $29 million of ZEC, bringing its holdings to nearly 2% of circulating supply. Tyler and Cameron Winklevoss also donated $1.2 million worth of ZEC to Shielded Labs, an independent Zcash development organization.
Privacy coins outrun a flat market
While Winklevoss files its paperwork, privacy coins are already the market's standout. Zcash is trading between $1,300 and $1,370 in early October 2026, a year-to-date gain above 700%. The token hit an all-time high near $1,699 on September 26, 2026, then pulled back. Monero, meanwhile, is priced around $560. The privacy-coin sector has added approximately $24.5 billion in market capitalization over the five months ending in late September 2026.
Grayscale's ETF effect, and the rivals chasing it
Grayscale's Zcash ETF, GZCSH, is currently the only live U.S. spot ZEC ETF, having begun trading in August. It attracted more than $233 million in inflows and reached nearly $890 million in net assets less than a month after launch, prompting a 3-for-1 split. Even so, the fund saw $30.25 million in outflows on Sept. 30. Bitwise has also filed for a Zcash ETF.
The filing comes 13 years after the Winklevoss twins' first U.S. spot bitcoin ETF bid, which the SEC rejected in 2017 over concerns of BTC price manipulation.
Sources: The Block, Decrypt, Crypto Briefing
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