Gypsum Ponds SWA offers public fishing access to Coldwater Lake and Coldwater Stream on 90 acres of state wildlife area along the Eagle River near Gypsum.

The site features designated parking areas, camping facilities, and available guides, with access via a gravel road from I-70 exit 140.

A valid hunting or fishing license or SWA pass is required for visitors 16 and older; note that vessel launching is prohibited and dogs are restricted March 15–July 15.