21Shares launches first European Zcash ETP

Reading Time: < 1 minute

21Shares has launched Europe’s first exchange-traded product (ETP) tied to Zcash, giving investors access to the privacy-focused cryptocurrency through traditional brokerage accounts.

The physically backed product began trading on Euronext Paris and Amsterdam on 21 September. The 21Shares Zcash ETP holds the underlying crypto asset and allows investors to gain exposure to ZEC without directly buying or storing the cryptocurrency. The product carries an annual management fee of 2.5%, according to 21Shares.

The launch comes after Grayscale introduced its Zcash ETF in the US. The fund trades on NYSE Arca under the ticker ZCSH, giving Zcash exposure to investors through a regulated US exchange-traded product.

21Shares also launched a physically backed ETP tracking ETHFI, the governance and utility token of decentralised finance protocol Ether.fi. The ETHFI product is listed on the same two Euronext exchanges and also carries a 2.5% annual fee.

The European listing adds another regulated route for investors seeking exposure to Zcash following the launch of the US ETF and comes as the cryptocurrency has attracted increased attention in recent months.