21Shares has introduced what it describes as Europe’s first exchange-traded product backed by Zcash, expanding the range of single-asset crypto products available on traditional exchanges. The spot Zcash ETP began trading on September 22 on Euronext Paris and Euronext Amsterdam, according to a Cointelegraph report cited by the source article.
The launch gives investors exposure to Zcash through standard brokerage accounts rather than requiring them to buy and custody the token directly. On the same day, 21Shares also listed a physically backed ETP tied to ETHFI, the governance and utility token of decentralized finance protocol Ether.fi.
Two new crypto ETPs on Euronext
The new Zcash product is structured as a spot ETP, meaning it is backed by the underlying asset rather than by derivatives. 21Shares listed it on Euronext exchanges in France and the Netherlands, adding a privacy-focused cryptocurrency to the firm’s European exchange-traded lineup.
Alongside it, 21Shares launched an ETHFI ETP that is also physically backed and trades on Euronext Paris and Amsterdam. ETHFI is the token associated with Ether.fi, a decentralized finance protocol, and serves governance and utility functions within that ecosystem.
Fees stand above many larger crypto products
Both the Zcash and ETHFI ETPs carry an annual management fee of 2.5%. The source article noted that this fee level is higher than that charged by many Bitcoin and Ether investment products already trading in Europe.
That pricing may set the two offerings apart from more established crypto ETP categories, even as they provide access to tokens that are less widely represented in regulated exchange-traded formats.
Broader attention on Zcash
The listing comes as Zcash-related investment products are appearing in both the US and European markets, a trend the source article said is broadening institutional interest in the asset. The same report cited CoinMarketCap data saying Zcash recently rose above $1,500 and was up about 1,100% over the past year.
The rally has also brought renewed discussion about Zcash’s position relative to Bitcoin. Grayscale head of research Jack Pandl said Zcash could potentially challenge Bitcoin’s strong network effects by taking advantage of benefits associated with arriving later to the market.
Mining activity adds another signal
Interest in Zcash is not limited to investment vehicles. In the mining sector, Fortitude Digital Mining said it produced about 28% of all Zcash mined in the first half of this year.
According to the source article, the company said its focus on Zcash reflects the token’s proof-of-work design, capped total supply and privacy features. Taken together with the new ETP launch, those developments suggest that attention on Zcash is increasing across both capital markets and network infrastructure.
The next confirmed step is the continued trading of the two newly listed 21Shares products on Euronext Paris and Amsterdam, where investors can access them through traditional brokerage channels.
Source: en.bloomingbit.io