21Shares lists Europe's first Zcash ETP on Euronext

21Shares listed Europe's first Zcash exchange-traded product on Euronext Paris and Euronext Amsterdam on Sept. 22. The physically backed product trades under the ticker ZCASH. It charges a 2.5% annual management fee. The product launched with 5,000 securities outstanding. Its net asset value was $20.04 per unit on the first day. Its assets under management were about $100,000 on the first day, according to 21Shares' factsheet. ZCASH trades in euros in Paris. ZCASH trades in dollars in Amsterdam. 21Shares named BitGo as custodian. The product holds Zcash with institutional custodians rather than tracking a futures contract. A companion product tracks ETHFI, the governance token of restaking protocol ether.fi. The ETHFI product carries the same 2.5% annual management fee. Grayscale launched its Zcash ETF under the ticker ZCSH on NYSE Arca on Aug. 25. Grayscale's ZCSH ETF completes a 3-for-1 share split on Sept. 30. Zcash allows users to shield balances and transfers. ZEC gained over 2,700% this year. ZEC moved above $1,600. ZEC reached an intraday high near $1,680 on Wednesday. ZEC then fell to roughly $1,522. The move represented a slide of about 6.6% today. Zcash had a market capitalization near $27.5 billion. Grayscale's ZCSH had attracted more than $233 million. The fund held close to $890 million in assets. Zcash has a 21 million coin cap. Zcash uses proof-of-work mining. Zcash includes optional shielded transactions that hide the sender, receiver, and amount. Coinholders voted 98.9% last week to keep Bitcoin-style halving over smoother issuance.