The privacy-focused cryptocurrency Zcash has secured its first exchange-traded product in Europe, with issuer 21Shares listing physically backed ZEC offerings on major European exchanges just weeks after the token's debut in a US ETF.
Expanding Beyond the Majors
21Shares has rolled out physically backed products tracking both Zcash (ZEC) and Ether.fi (ETHFI), listing them on Euronext Paris and Euronext Amsterdam. The move signals that issuers are increasingly willing to look past dominant assets like Bitcoin and Ether as they build out their product lineups for European investors.
The physically backed structure means the products are supported by holdings of the underlying tokens themselves, rather than relying on derivatives or synthetic exposure. That approach has become a preferred model for many European crypto ETP providers seeking to offer investors direct exposure through regulated instruments.
Privacy coins are stepping out of the shadows and into mainstream investment vehicles on both sides of the Atlantic.
A Growing Institutional Appetite
The European listings follow the earlier arrival of Zcash within a US exchange-traded fund, underscoring how quickly the asset has found its way into regulated wrapper products across different markets. For a privacy-oriented token that has historically operated on the fringes of institutional interest, the back-to-back launches mark a notable shift.
Ether.fi, a liquid restaking protocol, adds another layer of diversification to the offering, giving investors regulated access to a token tied to the fast-growing restaking sector of decentralized finance.
Key details of the launch include:
- Physically backed ZEC and ETHFI products from 21Shares
- Listings on Euronext Paris and Euronext Amsterdam
- Follows the earlier US ETF debut for Zcash
The expansion reflects a broader trend among issuers to widen their menus as demand grows for exposure to a more diverse set of digital assets, moving well beyond the largest cryptocurrencies that have long anchored the ETP market.