21Shares Lists Europe's First Zcash ETP

The Swiss asset manager 21Shares has listed Europe's first Zcash exchange-traded product on Euronext Paris and Amsterdam. The fund, which is physically backed by actual tokens, charges a 2.5% annual management fee.

The fund had a small start, with about $100,000 in assets and a net asset value of $20.04 per unit on its first day. It trades in euros in Paris and in dollars in Amsterdam, with BitGo as the custodian.

Zcash has gained more than 2,700% this year and reached an intraday high near $1,680 before falling back to about $1,522. The European listing follows Grayscale's Zcash ETF, which launched on August 25 and holds close to $890 million in assets.