Zcash ETP Launch Fuels Price Surge to $1,651
On September 21, 2022, 21Shares launched a physically backed Zcash ETP (ZCASH) on Euronext Paris and Amsterdam. This new product gives European investors access to price exposure without requiring direct custody of tokens.
The listing coincided with a rally in ZEC, which had been trading around $1,540 on September 19. By September 23, the price reached a 24-hour high of $1,651 before retracing to around $1,487 at press time.
According to Messari, more than $23 billion in weekly transfers were recorded last week, the highest since 2021 and second-highest on record. Shielded transactions, which conceal details visible on the public chain, reached a weekly high of 62,379, also reported by Zodl.
The new ETP charges an annual fee of 2.5% and brokerage fees may add to the cost. Investors hold the listed product while the underlying ZEC is kept within its custody structure.