Winklevoss Asset Services filed a preliminary registration statement for a Zcash exchange-traded product that would hold ZEC directly and carry a proposed annual sponsor fee of 0.25%. The filing, submitted to the SEC on October 6, 2026, proposes Nasdaq trading under the ticker WINK—but it does not establish that the product is approved, registered effective, or trading.
What the proposed WINK Zcash ETF would do
The proposed Winklevoss Zcash ETF is a passive trust intended to hold Zcash (ZEC) directly and reflect the value of its ZEC holdings, less expenses and liabilities. It is not designed to outperform ZEC or generate additional investment returns. The preliminary SEC Form S-1 describes the proposal and warns that its information is incomplete and may change; securities cannot be sold until the registration statement becomes effective.
The sponsor is Winklevoss Asset Services, LLC, wholly owned by Winklevoss Asset Services Holdings, LLC. The filing says the Trust would not be registered under the Investment Company Act of 1940, so shareholders would not receive the protections afforded by funds registered under that law. It is therefore more accurate to describe WINK as a proposed exchange-traded product structured as a trust, not as a conventional registered mutual fund.
What fee and other costs are proposed?
The proposed unified Sponsor Fee is 0.25% per year of the Trust’s ZEC Holdings. It would accrue daily, using the prior day’s holdings, and be paid monthly in ZEC or cash. The sponsor says it would use the fee to cover normal operating expenses.
#1 Best Overall
- Proven security at scale: Over 9 years and millions of cards issued with no known remote hacks, while military‑grade EAL6+ security keeps your private keys locked inside the chip. Your cryptocurrencies stay strongly protected from online attackers.
- Tap once to manage your entire crypto wallet across 90 blockchains - no USB cables or Bluetooth, no batteries, no setup. Access 14,100+ coins & tokens, DeFi, NFTs, and staking instantly from your phone
- Smart backup: Use your second Tangem Wallet as your Backup keys with end‑to‑end encryption; no more papers, pictures. If one card is lost, the remaining can still restore full access, with an optional seed phrase available for advanced users.
- Engineered to last up to 25 years: Waterproof (IP69K), shockproof and tested for extreme temperatures from −25°C to 50°C. A durable cold wallet with long‑term protection and independently audited security.
- Trusted by 6 million users worldwide - buy, sell, swap, stake, and spend cryptocurrency directly. The secure offline storage wallet designed for how people actually use crypto wallets
The 0.25% fee is not a complete estimate of every possible investor cost. The filing allows certain defined extraordinary, nonrecurring expenses—including some transaction, tax, indemnification, and legal costs—to be borne by the Trust. Investors who buy or sell through a broker may also pay customary brokerage commissions and charges.
Is WINK approved or trading?
No effective registration or start of trading is established by the preliminary S-1 reviewed here. Nasdaq listing under WINK is proposed, subject to notice of issuance. Because the filing is preliminary and can be amended, the proposed ticker and terms should not be treated as final. The filing also leaves material details blank, including the benchmark provider and index, transfer agent, administrator, cash custodian, basket size, and seed-investment details.
Rank #2
- 【Complete 2-Pack Kit】Includes 2 crypto wallets, 1 steel engraving pen, and 2 sets of locking screws for permanent, which is a matching set to help you protect your codes, passwords, and further importantly, your cryptocurrency
- 【Secure Crypto See-d Storage】Safeguard your Bitcoin and cryptocurrency with durable stainless steel or aluminum plates, resistant to fire, water, corrosion, and physical damage
- 【Passphrase Field Design】Each cryptocurrency see-d storage wallet is designed with several passphrase fields, you can engrave on 12 or 24-word see-ds in any languages to build your own see-d storage system
- 【Easy to Engrave & Lock】Engrave words clearly with the hardened steel marking pen, then lock the plates together securely using the included screws (5mm holes for added security)
- 【Compact & Portable】Each plate measures 90×55×3mm (3.5×2.1×0.1 inches), lightweight yet rugged for hidde-n storage, travel, or disaster-proof cold wallet backup. The crypto steel wallet is compatible with BIP39 wallets, works well with most hardware wallets
Who would hold the ZEC?
The filing names Gemini Trust Company, LLC, an affiliate of the sponsor, as custodian. It says Gemini would safeguard the Trust’s private keys and hold ZEC in segregated cold-storage addresses, apart from temporary operational needs. Cypherpunk Technologies Inc. is named as the Zcash Ecosystem Partner and could provide advisory, protocol-development, and coinholder-polling support.
What risks should prospective investors weigh?
Trading price may differ from NAV
Shares could trade above or below the Trust’s net asset value. That means the market price an investor pays or receives may not match the value of the Trust’s underlying ZEC holdings at that moment.
Recommended Free Tools
Rank #3
- EAL5+ CERTIFIED SECURE ELEMENT + FINGERPRINT PROTECTION — Your private keys stay encrypted offline on a certified EAL5+ chip, the same security tier used in EMV bank cards. Built by DCENT, securing crypto since 2018. Fingerprint authentication adds a second layer no PIN-only wallet can match.
- 10,000+ ASSETS NATIVE ON 100+ BLOCKCHAINS — Hold Bitcoin, Ethereum, XRP, Solana, Cardano, popular stablecoins (USDT, USDC), and NFTs in one wallet. No third-party apps, no fragmented setup — every supported asset works straight out of the box.
- TAP-TO-SIGN MOBILE EXPERIENCE — Pair your wallet with the DCENT mobile app over Bluetooth. Manage tokens, review transactions, and access in-app swap features directly from your phone — no cables, no desktop required.
- WEB3 & dAPP ACCESS VIA METAMASK — Connect to MetaMask and other browser extension wallets to manage NFTs, claim airdrops, and access dApps. A large screen and intuitive 4-button interface keep every transaction clearly visible before you sign.
- SEAMLESS FIRMWARE UPDATES & 30-DAY MONEY-BACK GUARANTEE — Apply security updates without resetting your wallet or migrating funds. Backed by Amazon's 30-day money-back guarantee — your purchase is risk-free.
Loss and regulatory protections
The issuer’s preliminary prospectus calls the shares speculative and warns that an investor could lose the entire investment. It also states that the Trust would not be registered under the Investment Company Act of 1940, and shareholders would not have the protections that Act provides to registered funds. The warning is the issuer’s disclosure, not an SEC endorsement or an independent SEC assessment.
Zcash network and privacy-related uncertainty
The filing says shielded Zcash transactions use zk-SNARKs to protect transaction amounts, senders, and recipients. It also reports that a vulnerability in the Orchard shielded pool was identified in late May 2026 and addressed through an emergency network upgrade in early June. Developers reported no evidence that it had been exploited, but the filing says the privacy-preserving system cannot conclusively establish whether exploitation occurred before remediation.
Rank #4
- OFFLINE PRIVATE KEY STORAGE – Keeps your private keys isolated from internet-connected devices, helping reduce exposure to online risks while giving you greater control over your cryptocurrency assets.
- BLUETOOTH AND USB-C CONNECTION – Connect to a compatible smartphone through Bluetooth or use a USB-C cable with a computer for convenient asset management at home or on the go.
- SUPPORTS MULTIPLE CRYPTOCURRENCIES – Manage Bitcoin, Ethereum and a wide range of other supported cryptocurrencies and tokens through compatible wallet applications.
- COMPACT AND EASY TO OPERATE – The portable design, built-in display and physical buttons allow you to review and confirm transaction details directly on the device.
- CONTACT US ANYTIME – If you have any questions about the product before purchasing or need assistance after receiving it, please contact us through Amazon at any time. We will be happy to assist you.
What does the indicated $100 million purchase mean?
Winklevoss Capital Fund, LLC indicated nonbinding interest in purchasing up to $100 million of shares through affiliates. The filing says it could ultimately buy more, fewer, or no shares. The indication is not a commitment and does not guarantee investor demand or market liquidity.
Independent reader supportYour contribution helps us test, update, and keep practical guides available for everyone.What to check before relying on the proposed terms
Anyone evaluating the proposal should distinguish its preliminary terms from a final, effective registration statement. In particular, a later filing would need to clarify the benchmark and service providers, as well as whether the proposed ticker and listing have proceeded. Until those details are established in primary filings, comparisons with other crypto products should account for the missing information rather than assume equivalent benchmarks, costs, or operating arrangements.
What’s actually slowing this PC down?
Pick the symptom - the matching free tool is one click away.
Quick Recap
Best Value
- READY IN 3 MINUTES – Set up your ELLIPAL X Card crypto wallet on the offline Starter device, then tap to the ELLIPAL mobile App and start using it. This 100% offline crypto wallet is a no battery crypto wallet with no charging, no firmware updates, and no complicated setup.
- TURN ANY WALLET INTO A CARD – Already have a wallet? Import your recovery phrase from MetaMask, Trust Wallet, Ledger, Trezor, or any compatible seed phrase wallet. X Card works as a backup wallet and physical twin of your existing bitcoin wallet, ethereum wallet, NFT wallet, or altcoin wallet — no transfers, no new accounts, no starting over.
- BUILT ON AN EAL6+ SECURE CHIP – Designed as a secure crypto wallet and private key wallet, X Card generates and stores your private keys inside the EAL6+ secure chip. Your keys never reach your phone, the App, USB, Bluetooth, or the internet, making it a true no bluetooth hardware wallet and no USB crypto wallet.
- ONE APP, EVERYTHING CRYPTO – Manage more with one cold storage wallet. Buy, sell, swap, send, spend, and earn across 45+ blockchains and 10,000+ tokens. Use X Card as your cryptocurrency wallet, coins and tokens wallet, DeFi wallet, and staking wallet for everyday crypto management.
- TAP TO CRYPTO – Carry your crypto cold wallet on a card and secure every transaction with one NFC tap. ELLIPAL X Card combines the simplicity of a crypto wallet with the protection of a cold storage hardware wallet.
Product prices and availability are accurate as of the date/time indicated and are subject to change. Any price and availability information displayed on Amazon at the time of purchase will apply.
