21shares Launches Europe's First Zcash ETP on Euronext

European asset manager 21shares has launched the region's first exchange-traded product tied to privacy coin Zcash, listing a physically backed ZEC ETP on Euronext Paris and Amsterdam. The product enables institutional and retail investors to gain exposure to ZEC through standard brokerage accounts without directly holding the cryptocurrency. Alongside the Zcash ETP, 21shares also introduced a physically backed product tracking ETHFI, the governance and utility token of liquid staking protocol Ether.fi, with both products carrying a 2.5% annual management fee — well above the fees charged by most European Bitcoin and Ether investment vehicles.

The European listing follows the debut of the Grayscale Zcash Trust (ZCSH) on NYSE Arca in the United States, reflecting growing institutional appetite for the privacy-focused cryptocurrency. Zcash has been one of the strongest performers in the crypto market, recently surging past $1,500 and posting gains of nearly 1,100% over the past year, according to CoinMarketCap data. Grayscale head of research Zach Pandl has suggested Zcash could benefit from "second-mover advantages" that help it compete with Bitcoin's entrenched network effects — a challenge earlier alternatives like Litecoin have struggled to overcome.

Mining interest in Zcash has also intensified. Fortitude Digital Mining told Cointelegraph it produced roughly 28% of all ZEC mined in the first half of 2026, underscoring its significant operational footprint on the network. The company cited Zcash's proof-of-work consensus model, capped supply, and privacy features as key reasons for its focus. The developments come as the Zcash community navigates the upcoming Ironwood network upgrade, which has faced possible delays over infrastructure readiness concerns.