21shares Launches Europe's First Zcash ETP on Euronext Paris and Amsterdam

21shares, a European asset manager specializing in cryptocurrency investment products, has listed the region's first exchange-traded product tied to Zcash, expanding institutional exposure to the privacy-focused cryptocurrency. On Tuesday, the firm introduced a physically backed Zcash (ZEC) ETP on Euronext Paris and Euronext Amsterdam, enabling investors to gain ZEC exposure through standard brokerage accounts without directly holding the digital asset.

Alongside the Zcash product, 21shares also launched an ETP tracking ETHFI, the governance and utility token of the Ether.fi decentralized finance protocol. Both products carry a 2.5% annual management fee, notably higher than fees on many Bitcoin and Ether investment products available in Europe. The European listings follow Grayscale's Zcash Trust ETF (ZCSH) debut on NYSE Arca in the United States, signaling broadening institutional appetite for privacy coins.

Zcash has emerged as one of the strongest-performing cryptocurrencies, surging past $1,500 and gaining nearly 1,100% over the past year, according to CoinMarketCap data. Grayscale head of research Zach Pandl has argued that Zcash could benefit from so-called "second-mover advantages" that might help it compete with Bitcoin's entrenched network effects, a challenge earlier alternatives like Litecoin have struggled to overcome. Mining firm Fortitude Digital Mining has also deepened its commitment to the network, reporting it produced roughly 28% of all ZEC mined in the first half of 2026, citing Zcash's proof-of-work consensus, fixed supply cap, and built-in privacy features.

The dual Zcash and ETHFI listings reflect 21shares' strategy of broadening its product lineup beyond Bitcoin and Ether as institutional demand for diversified crypto exposure grows across European regulated markets.