Zcash Debuts First European ETP Following US ETF Launch
European asset manager 21shares has introduced the region’s first exchange-traded product linked to the privacy-focused cryptocurrency Zcash, marking its entry into regulated markets after strong performance in the past year. Alongside this, 21shares launched an ETP tracking ETHFI, the governance token of decentralized finance platform Ether.fi. Both products are physically backed and listed on Euronext Paris and Amsterdam, carrying a 2.5% annual fee.
Launch of Zcash and ETHFI ETPs in Europe
21shares announced the introduction of Europe’s first physically backed Zcash (ZEC) ETP on Euronext Paris and Amsterdam, providing investors with exposure to ZEC via brokerage accounts without direct cryptocurrency possession.
Simultaneously, an ETP tracking ETHFI—governance and utility token of DeFi protocol Ether.fi—was launched. Ether.fi offers staking and other crypto financial services. The ETHFI product is also physically backed and trades on the same exchanges.
Fee Structure and Market Context
Both exchange-traded products charge an annual management fee of 2.5%, which is significantly higher than many Bitcoin and Ether investment products in Europe.
The arrival of Zcash ETP in Europe follows Grayscale’s launch of the Zcash ETF (ticker ZCSH) on NYSE Arca in the US, reflecting growing institutional demand for the privacy coin internationally.
Zcash’s Rally and Its Position as a Bitcoin Alternative
Over the past year, Zcash’s price surged nearly 1100%, surpassing $1,500, drawing renewed attention to its role as a Bitcoin alternative.
Grayscale research head Zach Pandl suggested that Zcash might benefit from “second-mover advantages,” potentially overcoming Bitcoin’s entrenched network effects—a challenge for earlier alternatives like Litecoin.
Mining interest also surged: Fortitude Digital Mining told Cointelegraph it mined about 28% of all ZEC produced in H1 2026, showcasing its operational scale on the network. Their focus on Zcash stems from its proof-of-work design, capped supply, and privacy features.
Why it matters
The introduction of Europe’s first Zcash ETP marks a significant milestone in expanding regulated market access to the privacy-focused cryptocurrency. Coupled with strong price performance and the recent US launch of a similar ETF, this indicates rising institutional recognition and interest in Zcash as a viable Bitcoin alternative. The relatively high management fees reflect the specialized nature and risks associated with privacy coins, appealing to investors focused on long-term diversification and confidentiality. Overall, expanding infrastructure for Zcash products bolsters confidence in privacy-centric cryptocurrencies across Europe and beyond, highlighting growing demand for nuanced investment options in digital assets.
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