Euronext Halts Trading of CoinShares’ Zcash ETP Prior to Paris Debut
On Wednesday, Euronext, the operator of the stock exchange, suspended trading of CoinShares’ exchange-traded product (ETP) based on Zcash, which was set to launch on Euronext Paris.
In a notification released the same day, Euronext announced that CoinShares’ Zcash ETP, identified by the ticker ZCSH, was halted from trading on Euronext Paris indefinitely, with no reason disclosed in the notice.
Flavio Bornancin-Tomasella, Euronext’s press and communications representative, informed Cointelegraph that the ETP will remain suspended until the Central Securities Depository (CSD) can fully support standard settlement procedures. He emphasized that this suspension relates solely to operational settlement requirements.
This suspension postpones the introduction of what would have been the fourth Zcash-based ETP in the European market. Earlier this year, companies such as 21Shares, Virtune, and Valor had already launched similar Zcash ETP products.
CoinShares had announced the upcoming launch of their Zcash ETP on Euronext Paris earlier that Wednesday. Attempts by Cointelegraph to obtain comments from CoinShares on this suspension were unsuccessful by the time of publication.
why
Why it matters
This suspension highlights the operational complexities involved in settling cryptocurrency-based financial products and its impact on the availability of Zcash investment options within European markets.
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