21shares Launches First European Zcash ETP on Euronext Paris and Amsterdam

Investment product provider 21shares has launched the first European exchange-traded product (ETP) for Zcash (ZEC), alongside a new ETP for Ether.fi (ETHFI), listing both on Euronext Paris and Amsterdam.

European Expansion for Zcash and Ether.fi

The newly introduced products are physically backed, meaning they hold the underlying cryptocurrency directly. The listing of the ZEC ETP marks a significant milestone as it represents the first time this privacy-focused cryptocurrency is available as an ETP in Europe. This move by 21shares reflects a broader trend among issuers to broaden their digital asset offerings beyond established major cryptocurrencies like Bitcoin and Ethereum, aiming to provide a wider range of investment opportunities for institutional and retail investors.

Why it Matters

The introduction of ETPs for assets like Zcash and Ether.fi provides regulated avenues for investors to gain exposure to a more diverse set of cryptocurrencies without directly holding the assets themselves. This development follows a period of increased institutional interest in the crypto market, including the launch of various US ETFs for major cryptocurrencies. As the market matures, the availability of such products on traditional exchanges like Euronext can enhance liquidity and legitimacy for these altcoins, potentially attracting new capital into the ecosystem. This broader availability aligns with the growing institutional demand for tokenized products and diversified crypto portfolios, as seen in other market developments such as SBI Holdings' blockchain initiative pivoting to Solana and BlackRock's interest in tokenized computing.

Broadening Crypto Investment Horizons

Issuers are increasingly looking to cater to investor demand for diversification within the digital asset space. While Bitcoin and Ethereum continue to dominate institutional products, the expansion into altcoins like Zcash and Ether.fi signifies a growing confidence in the long-term viability and investment potential of a wider array of blockchain projects. This mirrors the evolving landscape where traditional financial instruments are adapting to integrate novel digital assets, providing alternatives to direct crypto purchases and fostering greater market accessibility. The recent trend of institutional inflows into crypto products, such as Bitcoin ETFs halting an eight-week outflow streak, underscores this shift.

Key Takeaways

• 21shares has listed new ETPs for Zcash (ZEC) and Ether.fi (ETHFI).
• These products are available on Euronext Paris and Amsterdam.
• The ZEC ETP is the first of its kind in Europe for the privacy coin.
• Both ETPs are physically backed, providing direct exposure to the underlying cryptocurrencies.
• The move reflects a strategy by issuers to expand offerings beyond major cryptocurrencies.