Winklevoss-backed Zcash ETF files with SEC for Nasdaq listing

A company backed by the Winklevoss twins has filed with the SEC for an exchange-traded fund (ETF) that would directly hold ZEC tokens.

Gemini Trust would serve as the fund's custodian, with Winklevoss Capital affiliates eyeing an investment of up to $100 million.

For beginners An ETF lets investors gain exposure to an asset — in this case the Zcash cryptocurrency — through an ordinary exchange-traded instrument, without having to hold the tokens in a crypto wallet themselves.