Zcash tops $1,600 as 21Shares lists ZEC ETP in Europe

21Shares listed a physically backed Zcash exchange-traded product (ETP) under the ticker ZCASH on Euronext Paris and Amsterdam. The issuer recorded an inception date of Sept. 21 and announced the listing on Sept. 22. The product carries ISIN CH1608218801, with a euro listing in Paris and a dollar listing in Amsterdam.

The ETP holds Zcash (ZEC) in its custody structure, enabling investors to gain price exposure without buying or self-custodying coins. The product charges an annual fee of 2.5%; investors may also incur brokerage commissions and other trading costs.

ZEC was trading around $1,540 on Sept. 19. After the ETP listing, the token briefly exceeded $1,600. ZEC reached a 24-hour high of $1,651 on Sept. 23 and retraced to about $1,487 at press time.

On-chain data showed more than $23 billion in transfers on the Zcash network during the most recent week, the highest weekly total since 2021 and the second-largest weekly total on record. The transfer volume measures value moved on the network and does not directly equal investment into listed products.

Shielded transactions, which conceal sender, receiver and amount details on Zcash’s public ledger, totaled 62,379 in the same week, the highest weekly count since 2022. The shielded-transaction count reflects the number of shielded transfers rather than distinct users.

As a listed security, the ETP means investors hold a brokerage product while the underlying ZEC remains with the product’s custodian instead of in personal wallets. That creates different operational and regulatory considerations compared with direct token ownership.

Assets under management and trading volume for ZCASH, along with weekly network transfer totals and shielded-transaction counts, are available measures to track market activity and investor participation through European brokerages.