Winklevoss Asset Services Files Registration Documents for Spot Zcash Fund
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- 1Winklevoss Asset Services filed preliminary registration documents for a spot Zcash fund with the U.S. Securities and Exchange Commission (SEC) on Tuesday.
- 2The filing specified an annual sponsor fee of 0.25% on trust assets and indicated a $100 million intention to purchase shares by Winklevoss Capital Fund.
- 3A flaw discovered in the Zcash Orchard pool may have allowed for the creation of fake ZEC, and there is no cryptographic way to confirm if it was exploited before being fixed.
So what's the key point?
Winklevoss Asset Services has applied to create a fund that holds Zcash directly. However, a problem has arisen where fake Zcash may have been created within the Zcash system.
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