Winklevoss Twins Pitch Zcash Spot ETF At Token2049

What they announced

Tyler and Cameron Winklevoss used the first day of Token2049 in Singapore to publicly argue for a Zcash spot ETF. A day earlier, they submitted paperwork via Winklevoss Asset Services to the SEC seeking approval to issue spot ETFs tied to Zcash. The plan envisions a fund trading on Nasdaq under the ticker WINK.

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Their privacy argument

On a Zcash panel, the twins leaned hard into the privacy angle, comparing the token to the kind of encryption that enabled online payments and e-commerce, and calling it "encrypted Bitcoin." Tyler Winklevoss said traders "want exposure to privacy, which is an asset, and it's a declining asset, it's a very precious asset in this day and age." They further cited artificial intelligence as a driver of privacy erosion. As Tyler put it, "We're in an era where AI is eating away at privacy," adding, "Privacy is important to cash."

Market context and why it matters

Zcash started as a fork of Bitcoin's code and has been among the past year's standout performers, climbing more than 900%. Bitcoin, by contrast, is still roughly one third below its record high set last October above $126,000. Interest in so-called privacy coins that obscure transaction histories has lifted Zcash's profile, making payments harder to trace a central selling point.

For your wallet, the takeaway is simple: if privacy becomes a prized feature in crypto, the conversation around regulated access to privacy-focused tokens could expand. Whether or not an ETF gets approved, the pitch here is about demand for financial tools that keep more of your data to yourself.