21Shares has launched a physically backed Zcash exchange-traded product on Euronext Paris and Amsterdam, providing a new brokerage route for European investors seeking ZEC exposure. The product, listed under the ticker ZCASH with a euro listing in Paris and dollar listing in Amsterdam, trades with ISIN CH1608218801 and carries a 2.5% annual fee.
The ETP structure allows investors to gain price exposure to Zcash without directly purchasing or custodying tokens. Instead, the underlying ZEC is held within the product's custody structure, offering a different experience than acquiring coins and managing personal wallets. 21Shares called it the first Zcash ETP available to European investors.
The listing announcement came on September 22, with an inception date of September 21. ZEC was already trading around $1,540 on September 19, indicating the price rally preceded the European product launch. The momentum continued, with Zcash reaching a 24-hour high of $1,651 on September 23 before retracing to around $1,487.
Network Activity Reaches Multiyear Levels
Weekly Zcash transfer volume climbed above $23 billion, marking its highest weekly total since 2021 and the second-highest on record, according to Messari. This figure represents value moving across the network rather than fresh capital inflows.
Shielded transaction activity also spiked, with 62,379 shielded transactions recorded in a week, the highest weekly count since 2022, according to Zodl. Shielded transactions conceal details that would otherwise be visible on the public blockchain. Subsequent weekly readings will indicate whether this level of shielded activity sustains.
The new European listing and elevated network metrics provide additional data points for assessing Zcash beyond price movements, with ETP asset levels offering a separate gauge of institutional adoption through European brokerage channels.
