21shares prices Europe’s first Zcash ETP at a 2.5% annual fee as ZEC tops $1,600
- 21shares listed Europe’s first Zcash ETP on Euronext Paris and Amsterdam on Tuesday at a 2.5% annual fee.
- ZEC pushed past $1,600 and traded near $1,605 on Wednesday.
- ZEC’s market cap reached about $27.2 billion on September 23, ninth among all crypto assets.
On Tuesday, 21shares launched Europe’s first Zcash exchange-traded product on Euronext Paris and Amsterdam with a 2.5% annual fee.
At the product launch, ZEC exceeded $1,600.
Ether.fi’s ETHFI token gets a matching Euronext listing
The product is listed in Paris in euros and in Amsterdam in dollars under the ticker ZCASH and ISIN CH1608218801, according to a press release of September 22 from 21shares. It is physically backed, meaning the issuer holds the underlying ZEC with third-party custodians.
21shares also launched a physically-backed ETP tracking ETHFI, the governance and utility token of the restaking protocol ether.fi. Same 2.5% fee.
“Zcash offers something truly distinct by combining Bitcoin’s capped supply with optional privacy and future-proof cryptography,” said Jasmin Muelhaupt, director of financial product development at 21shares. 21shares is a subsidiary of prime broker FalconX.
Market cap hits $27.2 billion, ninth among crypto assets
The ZEC price traded at about $1,629 on Wednesday, up about 7% in the past 24 hours. On Sept. 23, it attained a market cap of about $27.6 billion, ranking ninth among all crypto assets.
The move cleared ZEC’s year-to-date high of $1,590 established on Sept. 18. The token had pulled back to $1,429 before finding support above $1,440.
More than 30% of all ZEC ever created, or about 4.9 million coins, are now held in shielded pools. That’s the highest share ever for the network.
Grayscale’s ZCSH, the first US spot Zcash ETF, was launched on NYSE Arca on August 25, according to Cryptopolitan. ZCSH splits 3-for-1, with a September 28 record date and trading on a post-split basis from September 30.
Earlier this month, the fund saw a single-session inflow of $46.56 million, its second-highest daily inflow since inception, and net assets pushed close to $917 million.
ZEC broke out and a trader executing a 50x long on Aster DEX was reportedly up 1,581% on a $224,000 position.
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FAQs
What is the fee on 21shares' Zcash ETP and how does it compare?
The 21shares Zcash ETP charges a 2.5% annual fee, the same as the ETHFI product listed alongside it.
Where and when did the Zcash ETP list?
It listed on Euronext Paris and Amsterdam on Tuesday, September 22, trading as ZCASH under ISIN CH1608218801.
How high has ZEC's price and market cap risen?
ZEC traded near $1,605 on Wednesday, with a market cap of about $27.2 billion that ranked it ninth among crypto assets.
Disclaimer. The information provided is not trading advice. Cryptopolitan.com holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decisions.
Randa Moses
Randa Moses is an editor and reporter at Cryptopolitan covering tech, AI, robotics, crypto, scams, and hacks. She has worked in the crypto space since 2017. She held roles at Forward Protocol, AmaZix, and Cryptosomniac. Randa holds a degree in Electrical and Electronics Engineering from the University of Bradford.
