First Digital eyes Nasdaq listing in $250M KOYN deal
A proposed exchange-traded fund (ETF) backed by the Winklevosses aims to track the price of Zcash and will be listed on the Nasdaq Stock Market, according to a filing with the US Securities and Exchange Commission (SEC). The Winklevoss Zcash ETF would hold ZEC directly, with Gemini Trust serving as the custodian, and Winklevoss Capital affiliates potentially investing up to $100 million.
The fund would be sponsored by Winklevoss Asset Services and would have an annual sponsor fee of 0.25%, without using leverage or derivatives. The ETF would offer investors exposure to Zcash through a traditional brokerage account, allowing them to trade the cryptocurrency without directly holding it. Zcash's zero-knowledge proofs technology enables shielded transactions that keep transaction amounts and participant identities anonymous.
The Winklevoss fund joins Grayscale's existing Zcash ETF (ZCSH), which has undergone a 3-for-1 share split and is currently trading at around $1,354, making it the 10th-largest cryptocurrency by market value.
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- Winklevoss-backed Zcash ETF files with SEC for Nasdaq listing cointelegraph.com
