Crypto: Zcash Gets its First ETP Listed in Europe

It’s official! Since Tuesday, September 22, 2026, a crypto ETP dedicated to ZEC freely trades on Euronext Paris and Amsterdam. Signed by 21Shares, this product changes the game for investors in Europe. But not only that! This announcement also sends a strong message: Zcash has just passed through a door that few privacy cryptos have managed to open.

A major breakthrough for Zcash crypto in the financial market

On Tuesday, September 22, 2026, 21Shares introduced its Zcash ETP on Euronext under the ticker ZCASH. Carrying ISIN CH1608218801, this crypto product is traded in euros in Paris and dollars in Amsterdam. It adds to an already broad range at 21shares. The Swiss asset manager listed the world’s very first physical ETP back in 2018.

More concretely, the 21shares Zcash ETP is listed alongside a second ETP tracked on ETHFI. This means the issuer actually holds the underlying Zcash tokens with licensed third-party custodians. Result: the investor will not have to manage their portfolio or private keys themselves.

Indeed, the logic is simple: Bitcoin limits its total quantity to 21 million coins. Zcash follows this same scarcity rule but adds one more option: the possibility to make its transactions confidential. This cryptographic mechanism allows the user to choose between full transparency or enhanced privacy. A rare characteristic in the crypto universe!

The fees of this Zcash ETP particularly catch the crypto market’s attention

The Zcash crypto ETP shows annual fees of 2.50%. This is almost double, even triple, what traditional Bitcoin and Ethereum ETFs charge in Europe. In a press release, 21shares product development director Jasmin Muelhaupt justifies this choice by the asset’s specificity.

We make access to these assets as simple as a traditional fund.

This high cost thus reflects the technical complexity of managing a token with optional privacy rather than a classical crypto asset like Bitcoin. For an institutional investor, this price is secondary to simplified access. No need to open an account on a crypto exchange. The exposure to Zcash crypto becomes as ordinary as buying a stock.

The new crypto ETP arrives as ZEC goes through a particularly marked rise phase

According to CoinMarketCap data, the price of the ZEC crypto from Zcash has exploded nearly 1,100% in one year. At the time of writing this article, it even exceeds $1,500. Its current value is around $1,610.

Crypto analysts agree on one point: this surge closely precedes the arrival of the Grayscale Zcash ETF on the NYSE Arca under the ticker ZCSH in the United States. And not only that! According to them, the movement no longer concerns just the financial market. Cointelegraph notably reports that Fortitude Digital Mining reportedly produced about 28% of all ZEC mined in the first half of 2026.

The company justifies this bet by:

• Zcash’s proof-of-work model;
• its capped supply;
• privacy features of the crypto network.

Zcash versus Bitcoin: a second-mover advantage for this crypto?

The question stirring analysts now is: Can Zcash really compete with Bitcoin?

In a report published August 25, 2026, Grayscale’s head of research Zach Pandl notably argues the idea of a second-mover advantage. According to him, Zcash crypto benefits from lessons learned since Bitcoin without suffering the same locked-in network effect (unlike Litecoin, which never succeeded in this bet). However, nothing guarantees this privacy crypto will dethrone the market leader someday.

What is certain is that Zcash is currently accumulating institutional signals:

• 21shares crypto ETP;
• Grayscale US crypto ETF;
• sustained mining activity

For many experts, this is momentum that few alternative crypto projects can claim today.

In any case, the arrival of this Zcash ETP on Euronext confirms a shift: privacy is becoming a selling point for asset managers. Will other issuers follow this movement in Europe in the coming months? Story to follow…