Zcash Hits $1,651 as 21Shares Launches First European ETP

ETP Listing Details

21Shares launched its physically backed Zcash ETP on Euronext Paris and Amsterdam on Sept. 22, listing under the ticker ZCASH with a euro-denominated share class in Paris and a dollar-denominated share class in Amsterdam. The product carries ISIN CH1608218801 and charges a 2.5% annual fee, with brokerage fees adding to investor costs. 21Shares described the launch as the first Zcash ETP available to European investors.

Rally Preceded Product Launch

The price advance began before the ETP arrived. ZEC traded around $1,540 on Sept. 19, when CryptoSlate reported a rally tied to growing attention on Grayscale's separate U.S. Zcash ETF application. The ETP's inception date is Sept. 21, one day before its public listing. On Sept. 23, ZEC reached a 24-hour high of $1,651 before retracing to around $1,487 at press time.

Network Activity Surges

Messari reported over $23 billion in Zcash transfer volume last week, the highest weekly total since 2021 and the second-highest on record. That figure reflects network movement rather than capital inflows into ZEC or the new ETP. Separately, Zodl reported 62,379 shielded transactions last week, the highest weekly reading since 2022. Shielded transactions obscure details visible on the public chain, and the count measures transaction volume rather than distinct users.

Source: CryptoSlate