TLDR
- Winklevoss Asset Services filed an S-1 with the SEC for a spot Zcash ETF.
- The fund would list on Nasdaq under ticker WINK, with Gemini Trust as custodian.
- Winklevoss Capital affiliates may invest up to $100 million, though this is not binding.
- ZEC is up over 735% in the past year and trades near $1,376.
- Traders are watching the NU7 mainnet upgrade decision set for Oct. 20.
Winklevoss Asset Services has filed a registration statement with the U.S. Securities and Exchange Commission for a new Zcash ETF. The fund would hold ZEC tokens directly and aims to list on the Nasdaq Stock Market.
Winklevoss just filed for a Zcash ETF exactly 13yrs after dropping the first-ever filing for spot bitcoin ETF. Welcome back @tyler @cameron pic.twitter.com/6UFpTqt1Um
— Eric Balchunas (@EricBalchunas) October 6, 2026
The proposed ETF would trade under the ticker WINK. If approved, it would give investors a way to gain exposure to Zcash through a regular brokerage account.
Gemini Trust Company, a Winklevoss affiliate, would act as custodian for the fund’s ZEC holdings. Winklevoss Asset Services would serve as the sponsor of the ETF.
The fund plans to charge an annual sponsor fee of 0.25%. The filing states the ETF will not use leverage or derivatives to track the price of ZEC.
Winklevoss Capital Fund has indicated interest in buying up to $100 million in shares of the new ETF. The filing notes this potential investment is not binding.
The ETF would use a cash creation and redemption model. Authorized participants would contribute cash to create new shares, and Winklevoss Asset Services would then purchase ZEC on their behalf.
This setup lets participants deal with the fund using cash rather than directly transferring ZEC. The filing also names Cypherpunk Technologies as a partner for Zcash network services.
The ETF still needs regulatory clearance before it can begin trading. No date has been set for a decision from the SEC.
Grayscale Already Has a Zcash ETF
The Winklevoss fund would join Grayscale’s Zcash ETF, which trades under the ticker ZCSH. Grayscale recently completed a 3-for-1 share split for that fund.
Zcash is a privacy-focused cryptocurrency. It uses zero-knowledge proofs to let users shield the amount and parties involved in a transaction.
ZEC Price Rises Ahead of Network Upgrade
ZEC has gained more than 735% over the past year. Its market capitalization sits near $23 billion, making it the 10th largest cryptocurrency by that measure.
ZEC traded at roughly $1,376 on Tuesday, up more than 5% over the prior 24 hours. The wider crypto market rose about 1% in the same period.
The token moved from the $1,290 to $1,300 range up to around $1,350. It then pulled back near $1,320 before buyers pushed the price to $1,380.
Resistance has held between $1,375 and $1,380 after several failed attempts to break higher. Support sits at $1,355 to $1,360, with another support zone near $1,340 to $1,345.
Analyst Ardi, who posts as @ArdiNSC, said ZEC has lost a daily swing low for the first time since the token traded in the $400s. He said the ZEC/BTC pair has also broken support across several timeframes.
This is what I’d expect on $ZEC if we get a bigger $BTC rally.
After a near +400% move from the lows, I’m more interested in where $ZEC forms a lower high rather than expecting another run at the top.
We’ve lost a daily swing low for the first time since the $400s. ZEC/BTC has… https://t.co/u0diVbGIcS pic.twitter.com/bIXm30MH0r
— Ardi (@ArdiNSC) October 6, 2026
Ardi said that if bitcoin rallies, ZEC could move back into its prior distribution zone between $1,420 and $1,500. He added that a lower high could then form before another drop toward $1,100 to $1,200.
He also said that if bitcoin loses its current trading range without breaking out, ZEC could fall toward that zone without a bounce.
Zcash traders are also watching the NU7 network upgrade. A decision on the NU7 mainnet activation is scheduled for Oct. 20.
