Zcash Surges to $1,600 as European ETP Launch Ignites Trading Frenzy
The price of Zcash surged to $1,600 after Europe's 21Shares launched a physically backed exchange-traded product (ETP) on Euronext Paris and Amsterdam.
The new ETP, called ZCASH, holds ZEC through its structure, giving investors price exposure without requiring them to buy or custody tokens directly. The annual fee is 2.5%, and brokerage charges may add to the cost.
Zcash was already trading at around $1,540 on September 19, but the European product added a new access point to an established price move. On September 23, Zcash recorded a 24-hour high of $1,651 before retracing to around $1,487 as of press time.
Weekly activity reached multiyear highs with over $23 billion in Zcash transfer volume last week and 62,379 shielded transactions on X. These metrics give investors fresh ways to assess Zcash beyond its price.