Zcash ETP Launch Boosts Price Above $1,600 in Europe
The European financial market has seen another addition to its cryptocurrency offerings with the launch of Zcash's (ZEC) physically backed exchange-traded product (ETP). The ETP is listed on several platforms in Paris and Amsterdam, allowing European investors to gain exposure to the cryptocurrency.
The announcement comes as a significant milestone for the adoption of cryptocurrencies in Europe. According to data from 21Shares, a prominent provider of crypto-based financial products, shielded ZEC now accounts for 29% of the total supply, with a snapshot taken at 3:42 p.m. ET.
Zcash's price has reacted positively to the news, surging above $1,600. However, it is essential to note that this development should not be seen as a guarantee or prediction for future market performance.