The Winklevoss brothers filed a Zcash (ZEC) ETF application with the SEC under the ticker symbol WIN

Grayscale has operated the Zcash ETF

ZEC prices climb ahead of the decision to upgrade the network

• Winklevoss Asset Services filed the S-1 registration document for a spot Zcash exchange-traded fund (ETF) with the U.S. Securities and Exchange Commission (SEC).
• The proposed ETF is intended to be listed on Nasdaq under the symbol WINK and designates Gemini Trust as the custodian of digital assets.
• Affiliated entities of Winklevoss Capital have expressed non-binding interest in purchasing up to US$10 million in fund shares.
• ZEC rose more than 735% year-on-year and is currently trading at approximately US$1,376.
• Market participants are paying close attention to the NU7 main network upgrade vote scheduled for October 20.

Winklevoss files Zcash ETF application

Winklevoss Asset Services has filed regulatory filings with the U.S. Securities and Exchange Commission (SEC) seeking approval of a new Zcash-focused exchange-traded fund. The investment vehicle will directly hold ZEC tokens and seek to be listed on the Nasdaq Stock Exchange.

Winklevoss filed a Zcash ETF application exactly 13 years after it first filed a spot Bitcoin ETF application. Welcome back to @tyler and @cameron.

If approved by regulators, the ETF will be traded under the code WINK. The fund structure allows traditional investors to access Zcash without directly purchasing or storing cryptocurrencies. According to the documents, the Gemini Trust Company, an entity related to the Winklevoss brothers, will be responsible for custodian responsibilities for the fund ZEC token holdings. Winklevoss Asset Services will manage the ETF as the official sponsor .

The planned annual management fee is 0.25%. The document stipulates that funds will avoid using leveraged positions or derivatives to replicate ZEC price fluctuations.

Winklevoss Capital Fund expressed interest in acquiring shares worth up to US$10 million after the ETF issuance. However, the document clarifies that this expression of interest is not a binding commitment.

The product will operate through a cash-based creation and redemption mechanism. Authorize participants to provide cash to generate new fund shares, and Winklevoss Asset Services will then execute the ZEC purchase on the market. This framework allows institutional participants to use U.S. dollars to interact with funds rather than directly processing ZEC token transfers. Registration documents also identify Cypherpunk Technologies as a service provider for Zcash network-related operations.

The proposed ETF requires SEC approval before launching. Regulators have not announced a timetable for the review decision.

Grayscale has launched Zcash ETF

Following Grayscale's existing ZCSH trading fund, Winklevoss 'offering will be the second Zcash-focused ETF on the U.S. market. Grayscale recently executed a 3-to-1 split of its Zcash offering.

Zcash is a privacy-oriented digital currency. The protocol employs zero-knowledge cryptographic proof, enabling users to hide transaction amounts and participant identities on the blockchain.

ZEC prices climb ahead of network upgrade decision

ZEC has increased by more than 735% in the past twelve months. The market capitalization of the cryptocurrency currently stands at approximately US$23 billion, making it the 10th largest digital asset by this indicator.

On Tuesday, ZEC traded at nearly $1,376, up more than 5% from the previous 24-hour cycle. During the same time period, the broader cryptocurrency market rose by about 1%.

Price movement shows that the token climbed from the US$1,290 -1,300 range to US$1,350. A brief correction brought ZEC back to $1,320, and then buying interest pushed the price to $1,380.

Multiple attempts to break through the resistance in the US$1,375 -1,380 range were rejected. Support is set at $1,355 -1,360, with another demand area located around $1,340 -1,345.

Market analyst Ardi (username @ArdiNSC) pointed out that ZEC broke the daily swing low for the first time since the asset traded in the $400 range. He observed that the ZEC/BTC trading pair also fell below support in multiple chart time frames.

根据 Ardi 的评估，比特币的反弹可能会推动 ZEC 回到之前的分布区间 1,420 至 1,500 美元之间。他指出，这种情况可能会形成较低的高点，然后再下跌至 1,100-1,200 美元区间。

或者，Ardi 表示，如果比特币在当前区间内崩溃而没有向上突破，ZEC 可能会直接跌至该较低目标，中间没有反弹。

Zcash 市场的参与者也关注 NU7 协议升级。关于 NU7 主网部署的治理决定定于 10 月 20 日进行。