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- 21Shares has launched a physically backed Zcash exchange-traded product on Euronext Paris and Amsterdam.
- The product carries an annual management fee of 2.5% and launched with 5,000 securities outstanding.
- The underlying ZEC is ineligible for lending programs.
21Shares has launched a physically backed Zcash exchange-traded product on Euronext Paris and Amsterdam, giving European investors brokerage access to ZEC less than a month after a U.S. Zcash product began trading on NYSE Arca.
The 21Shares Zcash ETP, ticker ZCASH, launched on Sept. 21. Each security is backed by ZEC held in custody, allowing investors to gain exposure without managing wallets or private keys directly.
ZCASH Launches With 2.5% Fee and 5,000 Securities
The product trades under ISIN CH1608218801 and carries an annual management fee of 2.5%. BitGo serves as custodian, while Flow Traders and Virtu Financial Ireland act as authorized participants and market makers.
21Shares lists 5,000 securities outstanding and approximately $100,000 in assets under management. The size of the product can change as authorized participants create or redeem securities in response to market demand.
21Shares also lists ZCASH as ineligible for lending, meaning the underlying ZEC is not used in a lending program.
U.S. Zcash Fund Passed $500M Two Weeks After NYSE Debut
The European launch follows the Aug. 25 NYSE Arca debut of The Zcash ETF, ticker ZCSH, which was previously the Grayscale Zcash Trust. Coinbase Custody holds the fund’s underlying ZEC.
By Sept. 8, ZCSH had passed $500 million in assets under management. The fund said the total included more than $70 million in cumulative inflows since its NYSE Arca launch and a separate roughly $100 million investment from DCG International Investments, an affiliate of its sponsor.
Options on ZCSH also began trading on NYSE Arca on Sept. 8. The US and European products have separate issuers and structures, but both provide ZEC exposure through traditional securities accounts rather than requiring investors to hold the token directly.
21Shares Launches Zcash and Ether.Fi ETPs Together
21Shares launched ZCASH alongside a physically backed ETP tracking ETHFI, the token associated with ether.fi.
The ether.fi product also launched Sept. 21 with a 2.5% annual fee and about $100,000 in initial assets listed on the 21Shares product page.
For ZCASH, 21Shares currently lists 5,000 securities outstanding, roughly $100,000 in assets and no lending of the underlying ZEC.
