21Shares Launches Europe's first Zcash ETP at 2.5% fee

21Shares has launched Europe’s first exchange traded product tied to Zcash, giving investors regulated exposure to the privacy-focused cryptocurrency through traditional brokerage accounts.

The physically backed Zcash ETP, ZCASH, began trading on Euronext Amsterdam and Euronext Paris on Tuesday. The product carries a 2.5% annual management fee and is backed by the underlying ZEC tokens. 21Shares also launched a physically backed ETP tracking Ether.fi’s ETHFI token on the same exchanges with the same fee.

For investors, the structure provides exposure to ZEC without requiring them to buy, hold or manage the cryptocurrency directly. The products can be accessed through standard investment accounts, extending Zcash’s reach into European regulated markets.

Zcash gains another regulated investment vehicle

The launch follows the debut of Grayscale’s Zcash ETF in the United States. The fund, which trades under the ticker ZCSH on NYSE Arca, began trading on August 25 and was the first exchange-traded product to offer spot exposure to ZEC globally.

The European launch gives Zcash another route into traditional investment markets as issuers continue expanding crypto products beyond Bitcoin and Ethereum.

21Shares already offers a broad range of crypto ETPs across European exchanges, with products covering assets including Solana, XRP, Uniswap, Hyperliquid, Chainlink and others. Its latest Zcash product adds a privacy-focused asset to that expanding lineup.

ZEC rally puts Zcash in the spotlight

The new product arrives after a sharp rally in ZEC. The token recently moved above $1,500 and has gained nearly 1,100% over the past year, according to CoinMarketCap data.

The rally has also renewed comparisons between Zcash and Bitcoin. Grayscale head of research Zach Pandl has argued that Zcash could benefit from “second-mover advantages” as it seeks to build on Bitcoin’s established network effects.

That performance has also attracted attention from the mining sector. Fortitude Digital Mining said it mined about 28% of all ZEC produced during the first half of 2026, highlighting the concentration of mining activity around the network. The company has pointed to Zcash’s proof-of-work design, capped supply and privacy features as reasons for its focus on the asset.

21Shares expands beyond Zcash

Zcash is not the only asset gaining a new European investment vehicle. 21Shares also launched an ETHFI ETP, tracking the governance and utility token of Ether.fi, a decentralized finance protocol focused on staking and related financial applications.

Like the Zcash product, the ETHFI ETP is physically backed and trades on Euronext Amsterdam and Euronext Paris with a 2.5% annual fee.

The two launches show how European crypto ETP issuers are continuing to broaden access beyond the largest digital assets, bringing more specialized tokens into traditional brokerage infrastructure.