European investors now have a brokerage pathway to ZEC following 21Shares’ introduction of a physically backed Zcash ETP on Euronext Paris and Amsterdam. Although the issuer formally publicized the listing on Sept. 22 amid a broader market rally, the upward price movement actually preceded the product’s debut.
Identified by the ISIN CH1608218801 and trading under the ticker ZCASH, the product offers euro-denominated shares in Paris and dollar-denominated shares in Amsterdam. By holding ZEC directly within its structural framework, the vehicle provides price exposure without demanding that investors purchase or store tokens independently. The vehicle carries a 2.5% annual fee, alongside potential brokerage expenses. Rather than handling coins and transferring them across personal wallets, investors simply hold the exchange-traded security while the underlying assets remain secured in custody. In its rollout announcement, 21Shares described the offering as the pioneer Zcash ETP accessible to European investors.
Timing plays a crucial role here, as the product’s inception date differs from its public rollout. According to the issuer’s product page, the ETP originated on Sept. 21 before getting announced on Sept. 22. Even earlier, on Sept. 19, ZEC was already changing hands around $1,540 when CryptoSlate reported on a surge driven by mounting interest in Grayscale’s separate U.S. Zcash ETF. Consequently, the European vehicle serves as a supplementary gateway to an already ongoing price rally.
Zcash hit a 24-hour peak of $1,651 on Sept. 23 before pulling back to approximately $1,487 by the time of publication.
Weekly activity reaches multiyear highs
Data from Messari showed that Zcash transfer volume surpassed $23 billion over the past week, marking its heaviest weekly volume since 2021 and the second-highest tally in history. While this metric tracks the movement of value across the network, capital flowing into ZEC or the newly launched ETP relies on separate metrics, meaning the $23 billion figure reflects network transfer activity rather than brand-new capital injections.
Meanwhile, user Zodl noted via X that weekly shielded transactions climbed to 62,379, representing the highest weekly figure since 2022. Shielded transactions keep information private that would typically be exposed on a public ledger. This metric tracks transaction frequency rather than individual users, and upcoming weekly statistics will determine whether this elevated level of shielded usage continues.
Together, the European debut and these two activity metrics supply market participants with additional tools to evaluate Zcash beyond mere token valuation. Tracking changes in the assets under management for ZCASH will provide a distinct measure of adoption via European brokerage platforms, with these indicators unfolding across different timeframes as trading gets underway.
