ETF Reports Clash on Zcash Creation/Redemption Method
TronWeekly and crypto.news both cover the same Winklevoss spot Zcash ETF filing but give opposite accounts of whether authorized participants can deliver ZEC directly or must use cash only.
TronWeekly and crypto.news both cover the same Winklevoss spot Zcash ETF filing but give opposite accounts of whether authorized participants can deliver ZEC directly or must use cash only.
What all sources agree on
- Winklevoss Asset Services has filed with the SEC for a spot Zcash ETF.
- The fund would hold ZEC directly and seek a Nasdaq listing under the ticker WINK.
- Gemini Trust Company would act as custodian for the fund’s ZEC.
- Cypherpunk Technologies is named in the filing in a role connected to the Zcash network/ecosystem.
- The fund would not use futures, derivatives, or leverage to track ZEC.
- ZEC was trading in the $1,300s range around the time of the filing.
Where the reports disagree
1Whether authorized participants can use ZEC (in-kind) or only cash for creations and redemptions
Authorized participants would use cash for share creations and redemptions.
The ETF could process creations and redemptions using either ZEC or cash. Authorized participants using in-kind creations would deliver ZEC into the trust’s custody account, while cash orders would require the fund to arrange purchases through trading counterparties.
What would settle it: The S-1 registration statement filed by Winklevoss Asset Services with the SEC
What to make of it
Treat the core filing details — Gemini custody, WINK ticker, Nasdaq listing, and Cypherpunk’s involvement — as established across both reports, but do not assume you know whether ZEC can be delivered in-kind for creations and redemptions until the underlying S-1 filing is checked directly.
Treat the core filing details — Gemini custody, WINK ticker, Nasdaq listing, and Cypherpunk’s involvement — as established across both reports, but do not assume you know whether ZEC can be delivered in-kind for creations and redemptions until the underlying S-1 filing is checked directly.
Original source: AltcoinGordon
Syndicated coverage. Originally reported by altcoingordon.com.
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