Zcash Gains Institutional Traction with European ETP Launch
European asset manager 21shares has introduced two new exchange-traded products (ETPs) on Euronext Paris and Amsterdam. The first is a physically backed Zcash ETP, allowing investors to gain exposure to ZEC without holding the cryptocurrency directly.
The second product tracks ETHFI, the governance and utility token of Ether.fi, a decentralized finance protocol offering staking and other crypto-based financial services.
Both ETPs carry an annual management fee of 2.5%, which is higher than what many Bitcoin and Ether investment products in Europe charge.
The Zcash ETP follows the launch of the Grayscale Zcash ETF in the United States, which trades on NYSE Arca under the ticker ZCSH. This reflects growing institutional interest in the privacy coin.