On Tuesday, 21Shares listed the first physically backed Zcash (ZEC) ETP in Europe on Euronext Paris and Amsterdam, and simultaneously launched an ETP for ETHFI. Both products carry an annual fee of 2.5%.

Access to ZEC without direct ownership of cryptocurrency

The physically backed Zcash ETP allows investors to gain exposure to ZEC through brokerage accounts without holding the coins directly.

The product follows the launch of a Zcash ETF in the US

The European launch follows the introduction of the Grayscale Zcash ETF in the US, which trades on NYSE Arca under the ticker ZCSH. The expansion of Zcash products in both the US and Europe reflects growing institutional interest in the privacy-focused cryptocurrency.

ETHFI: physically backed ETP for the Ether.fi token

In addition to Zcash, 21Shares introduced an ETP for ETHFI, the governance and utility token of the Ether.fi protocol. This product is also physically backed and trades on Euronext Paris and Amsterdam.

Zcash rally and miner interest

Zcash recently surpassed $1,500 and has increased by about 1,100% over the year. On the mining side, Fortitude Digital Mining reported mining around 28% of all ZEC in the first half of 2026, citing a focus on the proof-of-work model, limited supply, and network privacy as key factors.

The 2.5% fee for the new ETPs is significantly higher than the fees for many European investment products for bitcoin and ether.